📉 STEEM Investor Report 5 April 2017

in #trading7 years ago

Trading Recommendation:

Look for trades on hourly trends, approaching new inflection point

Investment Recommendation:

SELL or HOLD, fundamentals continue to decline, pending power downs look lower for next week

Analyst Commentary:

The STEEM price fell 0.71% verse the USD over the past 24 hours on lower volume as Bitcoin pull back slightly and STEEM continued to trade in a narrow range. The % vested indicator continues to fall as power downs continue with minimal investment. Power downs spiked for today on Steemdb and I will see if that is a glitch or it is confirmed by tomorrow's completed power downs. For traders, I reiterate that STEEM appears to be approaching a new inflection point verse the USD as the price level has traded in a very narrow range for the past 72 hours. This means the the price is likely to break heavily in one direction or another soon; based on the current flow into Bitcoin and declining momentum over the past 3 weeks I think the probability is higher of a break down (70% down, 30% up). On the investor side, the fundamentals have been consistently declining which tells me that the price level will break to catch up with fundamentals or the decline is built into the price level. Either way, I don't see long term improvement until after full payouts resume.

Investment Report 20170405.png

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.


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Glad I found your reports. Follow'd, Vote'd, and shared your post with @Steemtrail!

I'm hearing a lot of talk that suggests Steem is about to jump sharply up or down - this guy is certainly hoping for the former.

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