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RE: STEEM Price Analysis – May 15, 2017
what I find interesting about those is the fact that it also takes into accounts some fundamentals, like power downs / ups trends or total number of accounts.
Yeah, I was putting that in my posts, but haven't in the last two. I'm not sure that powerdowns have that much influence on prices anymore. Most of the larger whales who wanted out have already divested. And the last time I looked, total powerdowns was a fairly small size compared to the liquid market. I'll put them in occasionally if there are any large spikes, but I just don't think they're going to move prices much at the current rates. The larger trading market is taking over - and, as you said, there's a bigger influx of money into the markets overall.
@ats-david, I track power downs and active accounts as an indication of long term trends (weekly) . I believe that the technical analysis (price patterns, volume, and momentum indicators) are geared towards the shirt term (intra-day or daily). The crypto market is too new and immature to make the quarterly projections more commonly seen on Wall Street (IMHO). Putting the short and long together gives you enough information to trigger informed trades. That's my opinion, but I'm open to improvement.