Steem is recovering!
Steem is recovering!
The chart from poloniex show that steem seems to has already reached the bottom and started to rise. Let's see.
Poloniex
Look ar this 2 hours chart:
The same picture is on 4 hours frame:
The daily chart shows that after a long queue of red bear candles, we at last can notice a bullish green candle:
Bittrex
Again, we can see this reversal. The chart of 1 hour timeline:
The daily chart also shows a bullish movement:
Internal Market
What about our intermal market? The price here also rises:
It's definitely not a coincidence!
My conclusion: Steem is recovering and the long-awaited rise has started.
Of course, this day hasn't come to its end and there is always a possibility of sudden surprises, but if consider the fact that many steemers are waiting for steem's price to grow, we can suggest that this bullish candles can be a tigger which can stop poewrnig down trend. What do you think about it?
Looks to me more like a bear trap has formed after someone purchased a large amount. High volumes at the 0.00125 low. Now an evening star and spinning top have formed which is most likely an indication of a continuation in the downtrend. News of Synereo and people powering down is not helping, along with all the inactive users. Steemit will only recover once consensus agrees it's the strongest.
Maybe on 4 hr or 2 hr chart there is an evening star, but it seems that doji candle appears on dayly chart that may signify a reversal, let's see how this day will end.
I'm hoping for a reversal but then again it's best to prepare for the worse.
I published an article earlier today called "Steem Price Plunging & Why I'm Happy About It..." but looks like you've been here longer than I have. I hope you article does better than mine did. So far it's not going viral or anything.
Best, Guy
Hi, @ibringawareness! Can you give a link for your article. It's interesting what do you think about it.
Yes thank you very much, look forward to your thoughts, and from your readers as well. https://steemit.com/money/@ibringawareness/steem-price-plunging-and-why-i-m-happy-about-it-because-of-steemit-s-secret-future-business-model-you-we-don-t-see-or-know-about
$44k power downs by whales scheduled today.... We will see how that impacts.
Can you tell me how to track amounts of whales powering down? There's definitly a correlation between this action and steem price.
There's a website that tracks them all: http://steemdown.com/ by @bitcoiner
And another one that tracks transfers to exchanges: http://www.steembar.com/transfer.html by @userlogin
Thank you for this post, this content is relevant to my current interests. I just discovered Steemit the other day and as an artist and a content creator I am excited but today I see a lot of speculation and hemming and hawing
All new things always have a lot of speculation and hemming and hawing, expecially in a word of cryptocurrencies. It's like a venture business, where 8/10 of all projects fail down, but 2 from 10 gives great benefits that exceeds looses. I'm personally hope steem will survive but I expect huge volatility of steem price in first 1-2 years.
YES! Steem goes up :-)
Отличная новость! Настроение улучшилось!
Keep calm and steem on :)
I don't think we're going up yet. This will probably last 2-3 days then we'll probably see STEEM fall for another week before it starts to climb again: https://steemit.com/steem/@mrlogic/an-engineers-take-on-falling-steem
I' m agree with you partly. I also think that steem price will be in some range, achieving new bottoms and highs. But i prefer Eliot waves for analysis and for me it looks like price reversal now.