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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #29 "All we need is just a little patience" Aug 28, 2016

in #steem8 years ago

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We can see the volatility clearly getting lower, I kept repeating this cos it is very important. The price is in downtrend for some time now, with a steady volume, and the lower volatility should be pointing out that the sellers are getting exhausted. The lack of bounces IMHO means that the buyers are very patient and careful in order of accumulating. That could be due to the fact that there is probably a nice daily amount of STEEM being dumped on the markets,so buyers probably feel like it is enough to just put up a buy order and wait for the dumpers. Expecting some hard accumulation in the coming days, still see downwards potential (in my eyes till ~0.001 BTC is possible).