STEEM Investor Report 24 Feb 2017

Trading Recommendation:

Speculative Short Duration Day Trades with Tight Stop Limits

Investment Recommendation:

Hold current STEEM and slowly begin accumulation around the $0.09 level (dollar cost average)

Analyst Commentary:

The STEEM price dropped 10.36% verse the USD over the past 24 hours on just above average volume as the STEEM price resumed the downward trend we have seen over the past 2 weeks. The % vested was flat which indicates investors are powering up showing the first indications of a bottom in the STEEM price. While this is positive news for the next 72 hours I expect Monday and Tuesday to be another beat down of the STEEM price (almost 2 million liquid STEEM entering the market). I recommend traders look for opportunities to buy STEEM for short bull runs when it becomes over extended on the 15 minute and 1 hour charts. Continue to use tight stops because the long term trend is still down. On the investor side, I still believe the best place to buy in is not for another week or two but those fearing that they may miss out should start placing small orders to accumulate STEEM from the $0.09 to $0.10 levels. Follow and stay tuned for updates!

Upcoming Improvements (Haven't had time to execute yet):

• Changing all right side charts to weekly candlestick charts going back as far as I have data available. I eventually want to get each chart as far back as 6 months so there will be a 2 frame Multiple Time Frame analysis (I'll probably do a post on MTF later)
• Once Hard Fork 16 passes (hopeful end of significant power downs), I'll replace the bar chart with a chart of the Active Accounts (last 7 days), probably a weekly candlestick going back 3 months

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.