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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #27 "welcome back to the twilight zone" Aug 26, 2016

in #steem8 years ago

COMMENT
With the price hitting the first pre-pump support level we are entering what I consider a very hard support level, I might be wrong and it might not come before the ~0.001 levels, but to be quite honest I do expect some bounce here before the price takes another try downwards.
In these levels I still see some downwards potential towards ~0.001, but as days go by the upwards potential is becoming stronger and more likely. In my honest opinion it's just a matter of a few days before we see the trend turn.

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Seems to me this correction to some sort of reality based level of what blogging is worth HAD to happen. Once that price level is discovered, and if people are still Steeming , then a sustainable Steemit ecosystem can and will evolve.

And dont forget...many whales are cashing out and paying for new things to be built for steem :)

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