There has been an amazing amount of selling and volatility in the crypto markets. As newbies sell after buying at the highs and ICOs money continues to exit at break neck speed. The bounce on crypto prices was short lived this morning with little to no real follow thru. Not a good sign for the rest of the crypto coins.
Bitcoin has been holding up the best. With the worst performance on Ethereum and Zcash (surprisingly).
Steem and Steem Dollars (SBD) bounced back really well from fresh new lows late last night. And since most of my holdings are in STEEM and SBD I was feeling pretty good to accumulate a bit more at these super low levels.
I would make sure everyone watches STEEM DOLLARS (SBD) the action there has been very interesting and I'm expecting a big move here in the next few weeks after we come thru all this selling.
Below is a chart with some levels for STEEM (STEEM) - watch these levels like a hawk.
There is some resistance at 0.000533 to 0.000555 we need to work thru.
As far as a sell limit - I've got 0.000402 as a level we need to keep, if we go thru that price level - watch out! We will power slide down with the rest to some new lows.
Make sure you have a clear trading plan, don't panic! Panic selling or Panic buying are never good.
I haven't seen these low prices in a while and I'm expecting folks to start pickup deals once we see an end to selling of BTC, ETH and Zcash.
I'm still new to this, what is the market hours for Cryptos? As for me, I don't have enough money in cryptos to bankrupt me should they dip more. So I'm going to keep on holding. I will say buying more cryptos is very tempting!
Cryptos trade 24/7 like Forex. Surprisingly it seems like 3am EST is the time when a lot of big moves happen. I'm watching these prices and the strength in buying to see whether this is a good time to buy as well. Grab some BTC at $2200 late at night. Hoping it will hold so I don't need to sell it to avoid any losses.
Thanks, I don't know much about Forex either. I'm an old school stock market investor I guess lol Anyhow, I have much to learn for sure.
I appreciate that bit of information. Think I'll start setting my alarm clock for 3 am EST and see if I can pick up some good deals. I'm not planning much more as far as trading today. I bought some Steem with the last of my Litecoin and am now tapped out until tonight. Hopefully tomorrow will be a better day! :-)