Hello Steemers!
POLONIEX
4 hour Poloniex chart - Nov. 04, 2016
4 hour Poloniex chart - Nov. 05, 2016
1 day Poloniex chart - Nov. 04, 2016
1 day Poloniex chart - Nov. 05, 2016
The bounce continued reaching the highest point ion 0.00038501 BTC, after it got pulled back down to the ~0.00029 levels, where it's trading at right now.
BITTREX
4 hour Bittrex chart - Nov. 04, 2016
4 hour Bittrex chart - Nov. 05, 2016
The Bittrex price also had its bounce topped on about 0.000385 BTC, but compared to Poloniex on the retrace it reached bit further down on ~0.000263 BTC. At the moment it's traded at around 0.0003.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Nov. 04, 2016
STEEM/BTC volume Bittrex Nov. 05, 2016
STEEM/BTC volume Poloniex Nov. 04, 2016
STEEM/BTC volume Poloniex Nov. 05, 2016
STEEM indexed global volume Oct. 04, 2016
STEEM indexed global volume Oct. 05, 2016
Coinmarketcap top volume cryptos Nov. 04, 2016
Coinmarketcap top volume cryptos Nov. 05, 2016
Overall volume about 14% higher then yesterday, $STEEM on 11th place on the volume rankings.
Poloniex volume about 57% higher then yesterday, ~678 BTC.
Bittrex volume about 38% higher then yesterday, ~92 BTC.
COMMENT
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I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
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COMMENT
Looks like a nice pick up, the volume on the retrace is much lower then on the bounce.
At the moment it is testing the 0.0003 support, slightly bellow on 0.00025 and 0.0002 are 2 more support lines which could act as points for further bounce/uptrend.
I agree. Probably wave one complete and soon we will get the wave three advance.
Graphs and charts are great and all that however you're omitting to mention the great big elephant that stomped into the "trading" room and completely usurped any pretence of "technical analysis".... in case anyone missed it:
https://steemit.com/steem/@steemitblog/proposed-changes-to-steem-economy
Any "analysis" of the price of STEEM in the last couple of days that omits to mention the above proposal is fundamentally flawed.
Technicals demonstrate patterns/ statistics on human psychology/ emotion.
The same story plays out time and time again, regardless of the market sector, regardless of the time and space. Don't ask me why, maybe it's because we're fundamentally ruled by math/ physics, but "good news" tends to happen under one of a handful of situations, in relationship to recent price performance.
Good news comes quite often at a 61.8% (if not there, then the 78.6%, 88.6%, 100%, 127%, 141%, 168%, etc - all these levels have proven over time to be statistically significant in their role as reversal zones of trend) move below the recent low of the last major price swing.
Why?
I don't know. Maybe because it's all planned out by the company that issues the shares of its stock/ crypto to time the news with that psychological support level(s). Maybe it's just because we're ruled by math. Whatever it is, it isn't random, or it wouldn't work out to be statistically significant.
Upvoted and shared on Twitter✔ for my followers. Stephen
Disclaimer: I am just a bot trying to be helpful.
The completion of three consecutive green candles on the daily chart is something I'm looking for. We have yet to do it. Be a positive sign for price action if we do. See what this 3rd candle does...fingers crossed.
great work
Thank you I think I am going to buy some Steem now