$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #84, "did $STEEM just hit rock bottom?" Oct. 24, 2016.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Oct. 23, 2016
4 hour Poloniex chart - Oct. 24, 2016
1 day Poloniex chart - Oct. 23, 2016
1 day Poloniex chart - Oct. 24, 2016
The price went down into a new all time low to 0.00028547 after which it sharply bounced up to 0.00035576 BTC.
After the aggressive bounce the price got pulled back down to the ~0.0003 levels and has been trading there since not making any directional moves.
BITTREX
4 hour Bittrex chart - Oct. 23, 2016
4 hour Bittrex chart - Oct. 24, 2016
The Bittrex price dropped down into a new local low hitting exactly 0.00029 after it went up reaching all the way and spiking through the 0.00037 price. after the spike it got pulled back to around 0.00031 where it is traded at at the very moment.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Oct. 23, 2016
STEEM/BTC volume Bittrex Oct. 24, 2016
STEEM/BTC volume Poloniex Oct. 23, 2016
STEEM/BTC volume Poloniex Oct. 24, 2016
STEEM indexed global volume Oct. 23, 2016
STEEM indexed global volume Oct. 24, 2016
Coinmarketcap top volume cryptos Oct. 23, 2016
Coinmarketcap top volume cryptos Oct. 24, 2016
Overall volume about 7% higher then yesterday, $STEEM on 18th place on the volume rankings.
Poloniex volume about 15% higher then yesterday, ~91 BTC.
Bittrex volume about 8% lower then yesterday, ~35 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ :)
COMMENT
In my eyes we have reached the ultimate bottom, ~29k should be the turning point imho.
we had a 25k all time low, followed by a 27k local after the first dumping, indicating to me that now the 29k might act as this time's local low and a jumpstart for a trend change
Hopefully!
Just bought a little. I have no idea if you are right.
the time and the price will tell, no crystal ball here, just a monitor with a chart
As soon as we break out of this wedge we will have a nice rally.
Resteemed!
Thank you very much!
Man I'm rooting for that analysis to play out because today's candle scares me on a daily point of view. Looks just like the price action on 10/16 and 10/17. Sellers still in control, need to see a green candle tomorrow.
hope to see that play out too, tbh this ~29k point should turn things,, but then again I don't have a crystal ball, maybe we will see a trap breaking into a bit lower levels then waiting for the panicdumps
great post!
Why do you think the technoanalysis works with crypto. If you see any cryptocoin -including BTC- the behavior is complete abnormal compared with currencies pairs, even compared with commodities. A question, how much steem is in the market?
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