Hello there, Steemians. There is lot of carnage on the crypto market right now. There is blood on the street. But if you have any crypto in your portfolio you will probably agree with me that STEEM is doing quite well through this carnage. Here is the daily chart:
As you can perhaps see from the chart, that we are still holding 4.50 level, which is 50 EMA as shown by the green arrow. You can put in a thousand indicators, but as long as BTC stays this weak, there is limited possibility of a bounce. I am watch $8K level at BTC.
There is some good news fundamentally. Binance today listed STEEM. I think this is an important news, but we didn't see that much of an effect as we used to seeing for some new coins. Remember Binance is where is new big money is. So eventually when the dust settles, I expect to see big volumes coming from Binance. This will help support higher prices for STEEM.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Advisor. Consult professionals for any financial, accounting or legal related questions you have.
I always find Steem holds up pretty good compared to others when they drop a lot. Steem is going places!
I think Binance will help it a lot. I personally trade at Binance. That is where the real money is.
Well more attention for Steem is always better. So in theory it should keep it moving up
so this is good opportunity to use steem to buy btc, then?
I was taking about this with a friend and fellow trader. I have BTC buy orders placed at 8K, 7K, 6K. We will see if any of them get hit.
I'm still trying to wrap my head around the part where you have to value each currencies strength to know whether a trade is good or not. trade one alt for another, would make it so much simpler if I only had to value one of them, but now I gotta think about the direction either of them are going. :( I should have paid more attention in math class
Welcome to Steem. Do read A thumb rule for steemit minnows - 50:100:200:25 for starter tips.
Also get to know more about Steem reading the Steem Blue Paper and share your feedback on our Steem Blue Paper Awareness Initiative
All the Best!!!
Steem is doing great... The future for this platform is amazing!
Welcome!
I wish you all the best.
Feel free to check out my blog @maxdigi, this way we can support each other.
Cheers
maxidigi
Yes, if they keep the momentum going STEEM have bright future
You got a 8.01% upvote from @bid4joy courtesy of @azircon!
You got a 10.79% upvote from @redlambo courtesy of @azircon!
You got a 4.60% upvote from @allaz courtesy of @azircon!
Release the Kraken! You got a 6.06% upvote from @seakraken courtesy of @azircon!
great post
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly – Featured Posts are voted every 2.4hrs
Join the Curation Team Here | Vote Resteemable for Witness