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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #39, "...to the ring of fire.." Sept 08, 2016

in #steem8 years ago

I'm not here for the "I told you so" line. Oh wait, yes I am. I'm sorry if I sound blunt.

Fundamental analysis trumps technical every time in crypto, it's basically the only thing that matters. The only time technical is somewhat helpful is to get a nice entry point and that's more about setting some low buys and read the markets sentiment at the time. And yes some breakouts signals are there and you can predict them with technical analysis, but for that you also need fundamentals on your side.

I've written the same thing for more than a month and you are still expecting a miracle breakout based on nothing basically. A breakout will only happen if there are some news, roadmap or an actual business plan established. The community already made up its mind weeks ago. Steem is a broken economic system. Steemit did an awful job at attracting users without looking like a complete ponzi scheme too if you ask me, promoting known scammers like TDV.

I would love for the price to go up so my power downs could make a little more money but I'm not naive.

I'm not trying to FUD either since I I'm not buying. Sorry those are my honest 0.02 SBD.