$STEEM/BTC Poloniex+Bittrex Technical Analysis / Market Report Update #217, May. 18 2017.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - May. 15, 2017
4 hour Poloniex chart - May. 18, 2017
1 day Poloniex chart - May. 15, 2017
1 day Poloniex chart - May. 18, 2017
After the runup to 60k satoshi the price had a pullback down to 50k and then climbed up to 59k satoshi, on the 16th of May, after which came a dump down to 42k satoshi where the price marked an higher local low.
On May the 17th the price traded mostly between the 48k and the 43.5k lines and started going up again as 18th of May begun.
Today the price traded in up trend reaching 56k satoshi and then going down to the 48k support line where it once again, for now, marked a higher local low. At the moment being traded around 48k satoshi.
BITTREX
4 hour Bittrex chart - May. 15, 2017
4 hour Bittrex chart - May. 18, 2017
Bittrex had the same action as poloniex with slight differences of few satoshis in high and low points of the price, thanks to some lines pulled way back it is easy to see on the Bittrex chart how the price was mostly kept within the range of 45k and 53k satoshi.
VOLUME COMPARISON
STEEM/BTC volume Bittrex May. 15, 2017
STEEM/BTC volume Bittrex May. 18, 2017
STEEM/BTC volume Poloniex May. 15, 2017
STEEM/BTC volume Poloniex May. 18, 2017
STEEM indexed global volume May. 15, 2017
STEEM indexed global volume May. 18, 2017
Coinmarketcap top volume cryptos May. 15, 2017
Coinmarketcap top volume cryptos May. 18, 2017
Overall volume about 36% lower then on May 15, $STEEM on 17th place on the volume rankings.
Poloniex volume about 44% lower then on May 15, ~2412 BTC.
Bittrex volume about 12% lower then on May 15, ~565 BTC.
Although the volume has dropped a bit and STEEM fallen to the 17th place on the volume rankings, it's still very activly traded and has great steady-growing volume.
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.
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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
The price action on the daily chart confirmed another bull flag pattern earlier in the week, this is the 3rd one in roughly a month.
The price action is positive on the larger time frame which is of importance. We need to continue to consolidate above .40 and preferably push higher to maintain the positive tone.
The DXY is a huge HEAD AND SHOULDERS formation with projection to about 95 according to my pattern rules.
Since im new i want to introduce myself.
I make weekly calls on silver every sunday. Please check out my blog, follow and comment with critisism, discuss my view etc. I hope you check it out since im new on this platform. I got here on recommendation of the great Gregory Mannarino.
If you follow me i always follow back.
Cheers
Loving me some STEEMIT
COMMENT
During the past 3 days the price seems to be settling around the 48k line, at the moment being traded just a little bit above it.
if the 48k satoshi line holds as support I would expect the price to go up to 60k satoshi in try for a break upwards with new potential resistance at 65k and 70k satoshi.
If the 48k level fails to hold I see STEEM meeting next support at around ~43.7k satoshi, with the next one in my opinion being around the 40k level.
So when will Poloniex get back up? Too many lost transactions
I am glad you are back my friend.
I hope you have a great first week back and by the looks of it with your last couple posts or so, you are.
Thanks for always being kind to me and answering my questions etc.
Your friend Barry
Thanks for the warm welcome back!!
np, just reach out to me if u need me ;)
I will always stay the course and remind people of this about you like I have many times.
You are good people.
Hey I hit 1k followers last nite if you get time to stop by the page today!!
Have a good weekend Oz.
gz on the milestone!
will stop by soonish ;)
Congratulations @ozchartart!
Your post was mentioned in my hit parade in the following categories:
The DXY is a huge HEAD AND SHOULDERS formation with projection to about 95 according to my pattern rules.
Since im new i want to introduce myself.
I make weekly calls on silver every sunday. Please check out my blog, follow and comment with critisism, discuss my view etc. I hope you check it out since im new on this platform. I got here on recommendation of the great Gregory Mannarino.
If you follow me i always follow back.
Cheers
Steem is brewing some serious action on a buzz level, these charts are great to see nice you are posting again. Steemit is the place for all crypto information.
ok my friend. now go away for another 6 month and come back when steem reaches 5$
Great information. New to crypto and working hard to understand this market. You have my thanks and a follow.
Very informative ! Thanks for your The info. How would recommend to start analysis of the markets?
if you have no experience I would recommend to start at http://www.babypips.com/, they offer very good ground material