📉 STEEM Investor Report 20 March 2017
Trading Recommendation:
Except high volatility, short STEEM on hourly chart patterns
Investment Recommendation:
SELL or HOLD, fundamentals are not following the STEEM price movement, therefore a return to near previous levels is likely
Analyst Commentary:
The STEEM price fell 17.89% verse the USD over the past 24 hours on lower but still heavy volume ($1,272,160) as the STEEM price continued to consolidate after Saturday's incredible run up. The % vested indicator fell sharply due to the typical Monday @Steemit power down with only about 100,000 STEEM remaining to power down today. Fortunately, most of @Steemit's power downs are not immediately moved to markets for sale. Tomorrow's 715,000 and Wednesdays 570,000 power downs do generally move to the crypto markets and have a more significant impact on the STEEM price. My assessment continues to be that the fundamentals are not following the price action and therefore we will likely see a fall in the STEEM price over the next week.
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.
Thank you for this valuable information. It is the first report I have seen from you and so am now following. I shall have a look in your blog for an explanation of the recent steem price jump - any other links would be greatly appreciated. I am not a chartist - I follow the account holdings of the top 400 accounts and you are welcome to my information, should it be useful.
The steem price, to me, is driven by the holdings and steemit behaviours according to the protocols of the platform.
I suspect that HF17 had a lot to do with the price hike. HF17 has yet to go through and so it may fall straight back down if HF17 is rejected and there are many witnesses who are against it.
Namaste!
I'll take a look at your information, I'm always looking for more indicators to the future price movements. I agree that whales have a substantial amount of influence over the STEEM price which is why I watch % vested and their power downs closely.
I would appear that the reaction to the delay of HF 17 has been very positive over the last 2 hours. We'll see how it plays out.
The actual file I use is across a few tabs of an xl file.
I monitor steem, SP, SBD and Est Value across the top 400 or so accounts.
My rationale is that the lack of decentralisation is, to me, the great handbrake on the whole enterprise of steem/steemit.
These are the metrics I produce:
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Let me know if the presentation of data suits.
Or I could send you the raw data. I do this for the good of the platform, nothing else!
I like the formatting of this report....not sure how I haven't seen these posts sooner. Following now, thanks for the info!
Thanks for jumping in. I try to post a report everyday.