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RE: $STEEM/BTC Technical Analysis

in #steem8 years ago (edited)

"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. Critics, comments, reply's, counters, advice's, etc,,, are always welcome!"

I'm not really a fan of TA, but I do believe there are points that are "oversold" and "overbought"... and these would have to be charted - so, in a sense, I do have my own "version" of TA.

However, having said that, I cannot seperate TA from Fundamental analysis. I mean that particular chart is heavily affected by things like the start of Poloniex trading, which is a "one-off" event, unlike the more long-term liquidation of STEEM (which is a given and absorbs more $$$ from the market for a given quantity, the higher the price is).

I also question how can TA (alone) factor for fundamental differences in cryptocurrencies - say one has 0% inflation, another has 30% inflation. Yet you see two charts and you are trying to analyse their daily movements without any regard for that fact. Although it is very possible that this type of analysis lead to market activity which makes it a self-fulfilling prophecy. Anyway, I'm just ranting my long-term views of TA...

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I agree, as mentioned in the post, STEEM is about much more then just TA.