$STEEM/BTC Poloniex+Bittrex Technical Analysis / Market Report Update #222, May. 31. 2017.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - May. 29, 2017
4 hour Poloniex chart - May. 31, 2017
1 day Poloniex chart - May. 29, 2017
1 day Poloniex chart - May. 31, 2017
The price continued further flat out between 44k and 40k satoshi with mild waves along the way, spiking down bellow the 40k support line to 38.6k satoshi in the early hours of today.
At the moment it got pulled back up above the 40k satoshi line, trading around 41k.
BITTREX
4 hour Bittrex chart - May. 29, 2017
4 hour Bittrex chart - May. 31, 2017
Bittrex had a spike up to 45k satoshi on the 30th and then started to go down, and like Poloniex having a harder spike down below 40k satoshi, but resulting in a few 100's satoshi higher price then on poloniex, at 38.8k.
At the moment it's traded closely around 41k satoshi.
VOLUME COMPARISON
STEEM/BTC volume Bittrex May. 29, 2017
STEEM/BTC volume Bittrex May. 31, 2017
STEEM/BTC volume Poloniex May. 29, 2017
STEEM/BTC volume Poloniex May. 31, 2017
STEEM indexed global volume May. 29, 2017
STEEM indexed global volume May. 31, 2017
Coinmarketcap top volume cryptos May. 29, 2017
Coinmarketcap top volume cryptos May. 31, 2017
Overall volume about 23% higher then on May 29, $STEEM on 29th place on the volume rankings.
Poloniex volume about 20% higher then on May 29, ~671 BTC.
Bittrex volume about 30% higher then on May 29, ~170 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
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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
Expecting another leg down towards the 35k support area which I believe will be tested again
I'll be watching the battle at 35K - With popcorn...
It's currently going up and down a bit as I guess a lot of short time Investors jumped on the crypto hype the last weeks. But on the long term I'm sure it'll go up further :)
looks to me like in this whole area I marked with a blue rectangle has a bit of lack of trades going on lately
but I agree in the higher timeframe the future looks very rosy for STEEM from the chart perspective
I definitely benefit from your posts. I'm in it for the long haul. Thanks for the insight.
Thank you for the update @ozchartart! What i am wondering is when there is a difference in value between two exchanges, don't a lot of people buy the crypto token on the lowest exchange then switch to the highest value one and sell there?
that my friend is called arbitrage, basically meaning using the difference in price between 2 or more exchanges, for that one has to have funds both in (in this example) STEEM and BTC,
but I'd say most of the people go to the exchange with the highest volume to buy, cos they assume it is the safest one, since there's most of the money being traded, but then that's just my perspective, would be cool to hear some other thoughts bout that!
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nice one for the update
$2 soon people! I believe it will hit $2 briefly then settle around $1.40
Nice work, when you really enjoy something it shows! I also do some TA, as I used to be a licensed trader in NY during the Dot Com era. I just posted an article that I'm sure you would appreciate as it is something very different from anything you have seen before. Its predictive in nature and very accurate.
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