BTC in a sparrow's beak - where are we going from here? Why I don't put more money into my SP?
Hey Steemians, today I was doing a quick analysis of what's going on with the prices of STEEM and BTC today.
This is my first analysis/speculation post!
It will be short, but feel free to leave constructive criticism in the comments.
Keep in mind I'm a total amateur, anything I write on this blog is NOT investment advice.
Anything that you read about crypto before on my blog are just my thoughts. So is anything I will ever write in the future. You should definitely double check anything I write, do your own research and think for yourself.
BTC in a sparrow's beak shape
My thoughts for today are simple. Bitcoin's resistance and support are joining togather making a shape that reminds me of a sparrow's beak. The pressure is rising from both sides. You can see that on YouTube. The amount of bullishness by main crypto youtubers is crazy in these times. These people have big crypto investments. Therefore, they want to help push the price of BTC through the resistance so it continues the bull market.
The question is, will they succeed?
The resistance line seems harder to break than the support. I think if the support brakes the fall will be quick, while the other scenario will give birth to a continuation of the bull run, but much more relaxed than in the December bubble.
STEEM on a decline both in BTC and dollar value
Above, STEEM against the US dollar from ATH to now in an hourly chart with fib channel.
STEEM is in a definite downward channel since the beggining of January. That is very bad for all the people holding STEEM power. That's why I don't like locking up my assets like that, in most cases they are better off liquid on an exchange or atleast in the wallet. I guess that's anyone's choice, a very risky one... Just keep in mind:
When you lock up STEEM in STEEM power, you are betting long-term on the price of STEEM.
If you're not a risk taker, it's best to keep a smaller amount of STEEM in STEEM power. I've heard 15 SP is enough to let you post during times of network congestion.
Below, STEEM against BTC from ATH until now in an hourly chart.
As you can see, BTC is a lot stronger than STEEM during a market crash. We'll see if it stays that way! Due to the inflationary nature of STEEM, I think that's most likely. Also, in a week we'll see what happens with the Bitcoin's sparrow beak situation.
What do you think,
Will BTC go back up in a bull run or continue the bear market?
How big is the probability for STEEM to get out of the downward channel?
Thank you for reading, leave your fire down in comments!
With love,
@freegardens!
I believe in BTC and Steem, so I do care about current prices. I know I'll be rich in 5 years, that's the only thing I need to know :)
If you really believe in BTC and STEEM I think the price is last thing you should care about. The tech and the use of it should be the first... Still, who am I to say anything, maybe the price pushes the tech to develop and people start to use the currencies. What do you think?
BTW, thank you very much for the resteem, it appreciate it a lot!
Lets just hope that BTC breaks out of that triangle and does not retrace below 7500 again, since it could easily correct to 6000. Followed you since I just did a BTC TA update today as well!
Hope dies last, so I kill it first! Useless emotion, better get ourselves ready for whatever is coming!
For future viewers: price of bitcoin at the moment of posting is 8539.00USD
Thank you, useful robot! :)
I certainly think the price of steem is negatively affected by the behaviour of some of its users.
Unnecessary and inappropriate use of flagging, for example, scares potential investors away. They see censorship at play. Who wants to work in that type of environment?
It's good to see how you care about Steemit.
I don't think so. New users couldn't care less and older users understand that flagging is not censorship. It's meritocracy at play.
Better question is, what kind of content would be inappropriate?
For example, an extreme one, if I was a serial killer, would my killings be appropriate content?
I think new users would care if, when trying to establish an audience, they were being flagged inappropriately.
Flags serve a purpose. It's absurd to use them willy-nilly just for disagreeing with another's content. Others will see how the target has become invisible as a consequence of voicing their thoughts, sharing whatever they share. This'll create an atmosphere of anger or fear; people will start to censor themselves for fear of damage to their reputation scores (or loss of earnings) or they will retaliate. Would you like to have to censor what you say for fear of potential damage to your wallet?
Imagine, for example, if Christians decided to flag Muslim posts. Or, Rap Music fans started flagging Jazz Music. It's absurd.
What you're describing is not meritocracy, it's totalitarianism. Flagging (or intimidating) the opposition into silence is censorship.
Appropriate content. I'm for absolutely no censorship whatsoever. I think, if you don't like it, go and look at something else.
I'm sure a serial killer would gain lots of ghoulish interest, tbh. Not my cup of tea, but there are sites online that love that kind of thing. I'm sure plenty of us have seen an execution video online.
You see the first reason to flag, "Disagreement on rewards"? That's meritocracy. You can flag anyone if you think he didn't merit the payout with his post.
I wouldn't like to confuse ethics with religion.
You can't flag anyone into silence even if you don't want to. You can only bring their payout to zero if you have a lot of STEEM power. Also, their content can become hidden but never truly censored, anyone can see it if they want to.
Well I wouldn't like to see serial kills of humans on the hot page. Same with the killing or exploitation of any other species.
Disagreement on rewards. I think we both know what that means. It's where people cheat the reward pool to gain disproportionate rewards. I've seen a selfie get a payout of $350+. Not even a good selfie. Also a picture of a jacket. It's that type of thing that is disputed. It's clearly cheating.
You're right about the one with the most steem power being able to hide those with less. If a multi-millionaire decided posts were unworthy of payout, just because they disagreed with the ethics, would you be okay with that if it were your ethics they disagreed with?
Even if our serial killer got to the hot page, so what? It's supply and demand innit. Hopefully they'll use the NSFW tag. You still don't have to click on the link. You can mute that person if their content offends you.
If it was for cheating, it would be called "Cheating the reward pool". The thing is, you can't cheat the pool. You can only vote with the SP you've got.
If you still think it is as you say it is, go ask @ned or the rest of the staff what did they mean by "Disagreement on rewards".
Ofcourse I wouldn't be okay with that, but there's little I can do about it, eh? I can only invest in SP and counter him.
The serial killer would get prosecuted soon, the carnists wouldn't because speciesism is a normal thing in our society. For me it's not.
Semantics. I think they were being diplomatic in their choice of words.
Yes, investing SP seems to be the only way anybody with 'other than mainstream' views will survive this place. Sad.
Our serial killer would likely be caught, yes.
Eating animal food is normal for a lot of people, yes. When you've finished flagging meat eaters, will you move on to those that like eggs or milk or cheese? Then who? What about vegans who use unethically-sourced ciggie papers? Who's next?
I don't even know what you mean by speciesism. Is that really a thing? All these new isms.
You don't know that, go ask them.
No I won't flag anyone except for people protesting the 1% that wants a compassionate world by eating a skinned rabbit on the street. Obvious attention seeking - he got what he wanted, right?
Go google it.
I know I don't know. That's why I said 'I think...'
Are you suggesting that the people protesting against eating animal products, in public, drawing attention to themselves, should be immune from protest? Who gets to decide?
What if he were just eating a box chicken nuggets instead of a rabbit? As far as I could see he was eating some lunch, in public, raising awareness, similar to what your guys were doing. If they are just 1%, what fraction of a % do you think he represents? He's surely an even smaller minority in this day and age.
Bok @freegardens pridruži nam se na novo podignutim Discord serverima za Hrvatske i Balkanske Steemit korisnike detaljnije o ideji možeš pročitati u linkovima ispod, tamo se mozeš educirati s ostalim Steemit korisnicima s našeg podneblja i pitati što god te zanima.
O Hrvatskom Serveru:
https://steemit.com/steemit/@ivan.atman/official-croatian-discord-server-is-up-and-croatian-steemit-association-is-up-hrvatska-udruga-steemit-korisnika-husk
O Balkanskom Serveru:
https://steemit.com/steemit/@ivan.atman/official-balkan-discord-server-is-up-and-balkan-steemit-alliance-is-up-steemit-balkan-savez-sbs
(ispričavam se ukoliko si već tamo, ako jesi napiši u komentar da izbrišem ovu obavijest)
Bok imenjače i djelitelju ekološkog pogleda na svijet, drago mi je!
Hvala na pozivu, pridružim se večeras. Nisam znao da već postoji neka inicijativa.
Mogu li te pitati, kako si došao do mog bloga?
Eto super @freegardens i da nađem nekog tko još nije s nama, većina na Steemitu nas se već pridružila
Kako sam došao do tebe 😆 pa špiuniranjem naravno hahaah, GINA bot mi javi svaki put kada netko progovori išta vezano za Hrvatsku i Balkan, znam posao je to ali na taj način je ova inicijativa uspjela, kada dođeš tamo samo pitaj štogod svi će ti ukratko pojasniti o čemu se radi
I predpostavio sam da je tako nešto... Zanimaju me mogućnosti botova na steemu zbog mog projekta (eco+, pogledaj moje starije postove ako te zanima) pa zato pitam, tenks. Čuo sam za ginabot prije ali ga nisam još počeo koristiti... Kažeš korisno?
@freegardens Da jako je korisno, dobivaš apsolutno sve notifikacije i interakcije koje postaviš na GINA-bot, znaci radiš na eco coin-u i vidim imaš lijepu ideju, ja imam isto u planu nekolicinu eko inicijativa napraviti kasnije na ovoj platformi kada malo više korijenje proširim 😉, zeznuta je ode ekipa, puno ih priča o aktivizmu i filantropiji ali kada ja nešto spomenem svi šute 😆 ali doć će to na svoje kada nas više ozbiljnijih dođe na platformu (ne samo hippy trenutacni koji prevladavaju) just talk no walk
Inače planiramo napraviti svoj Steemit Fest Balkan u Osijeku, pripojiti ćemo se Liberty Fest-u i tamo ti je ekipa koja će tebe osobno jako zanimati, Damir Katušić koji je na našem serveru i Tomislav Tesla (Tesla Sustainable Village and Innovation Centre) to organiziraju i rade predavanja o permakulturi alternativnoj i zelenoj energiji te kako nam blockchain može pomoći za emancipaciju od sistema, pridruži nam se pa ćemo još tamo na discordu prićati o tome
Da, cilj je incentivizacija ekoloških i etičkih aktivnosti.
Samo preachaj tu ekologiju doći će čru igrači kad-tad!
Wow, zvuči zabavno!
Nisam čuo za Tomislava i Damira... Čujemo se večeras!