📉STEEM Investor Report 22 May 2017 (Pause for Bitcoin and Ethereum)

Trading Recommendation:

Buy into this pause, fundamentals look strong for rally after Bitcoin pauses

Investment Recommendation:

BUY, fundamentals appear to have flattened, rally is on!

Analyst Commentary:

The STEEM price fell 0.90% verse the USD over the past 24 hours on stronger volume ($6,825,730) as Bitcoin rallied over $2,300 then backed down to its current level at $2,216. Ethereum also spiked to over $180 and continues to have momentum. I recognize that the fundamentals and technical analysis have opposing recommendations (candlesticks are forming bearish pattern) but I believe the fundamentals will drive the next price movement. The STEEM price has pulled back slightly due to the dominate crypto coin activity which is creating an opportunity for those still looking to invest. The % vested indicator fell slightly but remains very close to flat for the week (improving fundamentals). Active accounts appear to have stabilized at 16,205 but this just may be the weekend effect (there is typically lower activity on weekends). Future power downs are also maintaining their downtrend into next week which will help the % vested indicator in the weeks to come. My recommendations remain unchanged because I expect STEEM to resume its rally once the Bitcoin and Ethereum rally ends. For traders, buy into this rally but maintain a stop loss at all times, move your stop loss up as the price rises to protect yourself. On the investor side, I believe we will be going up from here, buy into this rally and then hold on with a generous stop loss (around $1.00).

Payout Recommendation

Due to the SBD premium, I recommend taking your rewards in 50% SBD and using it to buy STEEM in the internal exchange.

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.