📉 STEEM Investor Report 8 March 2017

Trading Recommendation:

Look for minor bull trends on 15 minute/1 hour time scales, I think the next few days will be volatile but the long term trend is still down

Investment Recommendation:

Hold current STEEM and slowly begin accumulation below the $0.10 level (dollar cost average), I purchased 1,000 STEEM at $0.0975 and another 250 STEEM at $0.0918, next order is for 1,000 STEEM at $0.085

Analyst Commentary:

The STEEM price fell 5.62% verse the USD over the past 24 hours on higher volume than yesterday but lower than the average for the last 14 days ($130,000). The low volume over the past few days following over 2 million STEEM powering down tells me that a large amount of the liquid STEEM is still waiting to be unloaded (watch for huge sell orders coming out of nowhere and smashing the price trends). The % vest fell gain due to the 900,000 STEEM powered down in the last 24 hours. Low pending power downs on Wednesday and Thursday should proving an opportunity for a price and % vested recovery. We have now passed the 13 week time period since Hardfork 16 which I hoping will lead to lower power downs over the next week or two. Next Monday's power down number is only 1.5% lower than yesterdays but that is not surprising since the @Steemit account makes up 1.2 million (or 80%) of the Monday power downs. Next Tuesday's pending power downs is expected to be 27.6% lower than yesterday's which is good news. The key number I'm currently watching is % vested, if it can break it's current down trend I think we can turn around the long term negative price trend (power up to help out 💰).

I advise traders to watch for short term price rallies with the ability to loosen up the stops in hopes of catching longer up trends. On the investor side, the drop in the % vested figure is concerning but we may still be near the bottom if it rises strongly Wednesday through Sunday (I'll be watching it closely over the next few days).

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.