📉 STEEM Investor Report 12 March 2017
Trading Recommendation:
Look for minor bull trends on 15 minute/1 hour time scales, I think the overall trend is strongly down, short if you have that derivative option
Investment Recommendation:
Hold current STEEM and slowly begin accumulation below the $0.08 level (dollar cost average), I purchased 1,000 STEEM at $0.0975, 250 STEEM at $0.0918, 1,000 STEEM at $0.085, 1,500 STEEM at $0.0825, 1,000 STEEM at $0.081. My current buy order is in at $0.0693.
Analyst Commentary:
The STEEM price fell slightly 0.68% verse the USD over the past 24 hours on similar volume to yesterday as the price paused at current levels. The chart pattern seen over the last 24 hours is typically associated with reversals in trends so we may be seeing the end of the downward slide. The % vested indicator dropped slightly but not enough to make me believe that we could not see a price rise soon. Account creation and the number of active users has been high over the past week, does anyone know what is going on there?
I advise traders to watch for short term price rallies with looser stops if you believe we are seeing a reversal to a bull trend. Given that almost 3 million STEEM is powering down between today and Tuesday, I'm advising investors to hold off on buying more STEEM because the price is likely to move lower over the next 72 hours.
Report Changes:
- Hardfork 16 countdown removed and % vested chart expanded. I also added a tracker of active accounts (last 7 days) to the % vested chart
Data Credit:
Steemchart.com
Coinmarketcap.com
Steemdb.com
Disclosure:
The report published above is based on my assessment of the cryptocurrency market. Investors should consider this report as only a single factor in making their investment decision. All investments involve market risk, including possible loss of principal invested. The author is a cryptocurrency investor and while he seeks to provide honest assessments to the best of his ability may have a conflict of interest that could affect the objectivity of this report.
This post has been ranked within the top 25 most undervalued posts in the second half of Mar 12. We estimate that this post is undervalued by $2.41 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Mar 12 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Good stuff. Following.
good data, thx
Thanks a lot and it helps me a lot and I wished I reviewed this report before I bought some steems.