$STEEM/BTC Poloniex+Bittrex Technical Analysis / Market Report Update #220, May. 26. 2017.
First of all, I would like you to take 5 minutes of you're time and vote for $STEEM being added to BTCC (BTCChina), a big Chinese exchange.
This is something every one of us can do in order to help the STEEM economy.
Simply make a Twitter account and follow the bellow link to vote!
Thank you all in forward!
4 hour Poloniex chart - May. 24, 2017
4 hour Poloniex chart - May. 26, 2017
1 day Poloniex chart - May. 24, 2017
1 day Poloniex chart - May. 26, 2017
The 55k level didnt provide enough support and the price dipped down breaking the 48k line and made a new local low at 42k satoshi, just at the bottom of one of the previous low points (I pulled a thin purple line so you see it better), making it a higher local low in a bigger perspective.
After marking the new local low the price got pulled back up above the ~44k line, and then slowly continued upwards breaking the 48k level with a bounce, and since been trading just at the 48k line.
4 hour Bittrex chart - May. 24, 2017
4 hour Bittrex chart - May. 26, 2017
Bittrex also had it's new local low marked at 42k satoshi and then got pulled back up above the 45k line which seems to provide decent support for the second time already (circled yellow).
STEEM/BTC volume Bittrex May. 24, 2017
STEEM/BTC volume Bittrex May. 26, 2017
STEEM/BTC volume Poloniex May. 24, 2017
STEEM/BTC volume Poloniex May. 26, 2017
STEEM indexed global volume May. 24, 2017
STEEM indexed global volume May. 26, 2017
Coinmarketcap top volume cryptos May. 24, 2017
Coinmarketcap top volume cryptos May. 26, 2017
Overall volume about 36% lower then on May 20, $STEEM on 26th place on the volume rankings.
Poloniex volume about 32% lower then on May 20, ~1160 BTC.
Bittrex volume about 32% lower then on May 20, ~235 BTC.
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
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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.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ