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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #66, "Now on the verge,,," Oct. 06, 2016.
COMMENT
Looks like there is nearly to no interest by most of the people to dump at these low levels, Although the price is still in a downtrend only the big dumps seem to be making any movement.
We can see how the volatility is gradually decreasing over time, now leading to a total flat out.
IMHO this screams for a nice bounce, there seems to be low downwards pressure from the overall market, just here and there some big hand dumping.
We are in a clear downward channel currently. I would wait for a breakout out of this channel before buying.
nice