📉 STEEM Investor Report 13 March 2017

Trading Recommendation:

Look for minor bull trends on 15 minute/1 hour time scales

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 1.06% verse the USD over the past 24 hours on lower volume than has been seen over the past 48 hours. Bitcoin has resumed its price march higher which my be drawing trading volume from altcoins again. The STEEM price trend seems to be losing its downward momentum however the % vested indicator has begun to fall again which is expected as the @steemit account has already powered down today. I would expect the price to fall over the next 36 hours as Tuesday's power down tend to have a larger effect on the market.

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. Another 1 million STEEM is powering down over the next 36 hours, therefore I'm advising investors to hold off on buying more STEEM because the price is likely to move lower.

No hard feelings on yesterday's down vote, it's all part of the Steemit game 💰

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.