Hey everyone and welcome to the latest wrap of everything that's been going on in our three favourite ...
Crypto Markets
BTCUSD finished the day higher yesterday, rallying out of short term support in the 3150-3250 zone, to close at 3405. That is just shy of the record close at 3415. This is a welcome development as Wednesday was a Bearish Engulfing candle that could of led to a sharp sell off. Not out of the woods yet though, that reversal candle is still dangerous as long as the highs hold. Would like to see it invalidated over the coming days:
The ETHUSD rally is on pause for the moment, but it did trade significantly higher since my last post. Pair is currently consolidating under 320 resistance and seems to be preparing for a move higher. I'm still not sure if it can breach the highs and resume the up-trend though - not a harmonics guy, but this looks like one of those bearish animal structures - would like to hear from any techies out there who specialize in harmonics. Either way I think we should see a return to the highs:
STEEMBTC has broken below trend-line support, though the lower bound of the 30-40 support zone still holds, and recent weakness is on the back of Bitcoin strength - this is far from the doomsday scenario we were worried about in late July. I still see potential for a bounce from this support zone, though let's face it - my bullish calls have been pretty shocking on this pair :P
Currently fetching $1.56 AUD, down from $1.74 on Tuesday. Also down against the USD, fetching $1.21 from a 24 hour high of $1.39. Steem Dollars continue to trade at a discount, you can currently pick them up for 96 cents on the dollar.
That's me for the day folks. Heading back down the coast today - nice funeral and wake, good to see the extended family and say goodbyes and managed to drink for 9 hours without making a complete arse of myself. Also good to catch up with @forexbrokr for a few bevs and Steemit chat!
Team Aus footer by the amazing @bearone
Very good post , resteemed!
Hope that Steem reaches BTC price some day :)
Yolo!
lolo
We think alike! Upvoted!
My analysis recently nailed the entry for CVC and now books 78% profit in just days! I've made lots of very profitable calls...check it out: https://steemit.com/bitcoin/@haejin/cvc-kaboom-up-78-what-a-call
Hi Haejin, I'm very busy, I try to reply to all comments but don't always have a chance to read. Feel free to post a chart in my comments and then I can check out and reply all at once!
Great article!
Good commentary mate keep up the good work!
Thanks mate!
Thank you @bulleth for your job. Very intresting! Resteem
I think STEEM will technically be moving down...
What do you base that assumption on maksym7?
Thanks
@ronni
@ronni, my opinion is based on technical analysis and only on it.
I'll explain why I think that Steam will fall:
This is my opinion as a trader - you can share it or not. The market often does not go according to plan, if you know =))) and 100% guarantee to reduce Steam I will not! But technical analysis so far shows a decline.
Thank you for your in-depth explanation maksym7! When you say you believe the price of Steem will fall, then what time period does that revolve around? Is it as a day trader or as an investor?
@ronni, I'm looking at the possible drop of STEEM as a trader.
As an investor I believe in cryptoworld! And on longevity I consider only purchases!
Nice analysis!
Hopefully not, but agree with that target and it's not too bad either way!
I am puzzled as to why the topic of the falling Steem price is not more widespread here on Steemit... The other coins have been increasing in price lately, but not Steem and I would very much like to know a few thoughts on why this is the case.
Thanks
@ronni
Regular outages at the exchanges really don't help! Bittrex was offline again yesterday ...
I'm losing a little faith in Steem. My shares in Steem have just steadily declined and declined and declined. Moreover, when are we get away from the Beta version of Steem? And what's up with Steemd and Steemkr? What are those little outliers?
How long have you been around for? I came in at a bad time - right at the top pretty much. Steemit is only a year old so it is still in Beta - there are things with it that could be improved. Steemd is a 'block explorer' for the Steem network and Steemkr seems to just be a Steem frontend/Steemit clone for Korea.
I think this platform, the network it is built on and the tokens that power the network have HUGE potential! We just have to stick it out.
Awesome love a bit of technical analysis on crypto's. The money to be made in the crypto market rubbishes on modern day forex
I reckon you can make a ton on each, but crypto is just easier as it pretty much just goes up :P