Hello Steemians! We are completing the 4th red day in a row on BTC. Let's have a look at the chart.
The daily chart looks weak on BTC, and we are nearing the 7200 support within a striking distance now. My view is "just get it over with". It is actually better to have a high volume sharp decline than the slow leaking we are having. A high volume decline usually leads to a strong bounce back. So we need is something like the US stock Market Index SPX, which after Feb 01, 2018, is staging huge days, almost every day. Volatility is trader's bread and butter, that's all I am saying :)
In STEEEM-land?
Oh! What can I say?! I am tired of looking at this chart. As of current writing Steem is trading at 1.66 and we are nearing 1.4 support now. I do expect at least a small bounce there. But with the current volume trend, please don't get your hopes high.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
Agree
Need to get to it already ..get to the bottom and then we can move forward
Super post!
Thanks for the insight. Got some interesting facts
It look like it just broke through another support level. Im glad that i havent bought any yet, although i will at some point when the dust settles. I do not think that bitcoin will go to zero but i do not think that its worth 8k either.