STEEM Appreciates On Significant Volume, Briefly Goes Above 5k Satoshis

in steemit •  4 months ago 

It was a very nice surprise to see this morning STEEM hovering briefly above 5k satoshis on Binance:

Screen Shot 2019-06-08 at 1.09.59 PM.png

Even nicer was the volume, which seems to be the highest in the last 3 weeks.

STEEM was staying flat for almost a month, playing in the 4k - 4.8k satoshis corridor, on very small volume. The upside break is promising, on this context, as it may signify the beginning of a new influx. Bitcoin seems to stabilize around 8k USD, and, every time when Bitcoin stabilizes, there is an influx of value into alts - Bitcoin holders are buying back the alts they sold when Bitcoin was on the rise. At least this is how it worked during the 2017 bull run.

Of course, this may signify also nothing and STEEM can continue to stay at this level, or even go south.

As always, this is not financial advice, do your own research when you trade and never trade more than you can afford to lose.

I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.

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Nice move, still have a lot to cover up

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It's nice to see STEEM at Green color these days! I think it's time to rise back, we were downgraded so much ion last couple of months! Thank you for this update!


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Aaaaand there goes the price down again as sellers are like a herd of bulls from the bull pen.

There's a very strong resistance at 5k satoshis. I don't expect it to break only in one push, it may take days / weeks. The fact that it tested it successfully on high volume is relevant, though.

It has been a long time seeing steem going down and sideways.