📉 STEEM Investor Report 27 March 2017

Trading Recommendation:

Expect high volatility, STEEM supported at the 16750 Satoshi, strong downward movement expected if broken

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 8.20% verse the USD over the past 24 hours on lower volume as the price recovers from yesterday's inflection point spike. Bitcoin has broken through the $1,000 level again which is probably drawing traders out of altcoins. The % vested indicator fell sharply as the typical Monday power downs have already hit. If Bitcoin trading continues to pick up I think it will have a negative impact on the STEEM price over the short term. On the investor side, I believe the fundamentals continue to be negative and therefore I'm bearish on the STEEM price over the next couple weeks. We have broken straight through 52 million liquid STEEM which is another all time high for the Steem blockchain.

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.