Don't drop your Steem (on Poloniex)

in #steem5 years ago

It looks like we might be seeing a turning point in the steem price trend so it might be best to power up rather than down but this post is not about this..

Here is the daily price chart since Steem is out on Poloniex. What caught my attention is that even though the price is going down, the tiny green bars at the bottom of the chart indicate the volume and if there is more people buying than selling.
You can see that since the 15th of august, it's always green. What does this actually mean?
It means that most people who buy Steem buy at a price where their order is immediately filled instead of placing an order under the price and waiting for it to be filled.

So my suggestion if you do decide to power down and sell your Steem is that you place an order a little above the best buy price and wait for someone to grab it rather than rushing and selling at the buy price.
You might even be able to rebuy it again a few percents cheaper and send it back to your Steem account to power up!
If whales could follow this advice, that could even prevent the price from being pushed down so much and we could see a real change in the trend.

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Actually those green bars are the MACD, moving average, convergence divergence. It's the difference between the fast and slow moving averages.. the blue and yellow lines. Volume is right above that, the grey bars :)

ok didn't know that. but green means more people are buying already placed orders no?

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