It's been a crazy fast run downwards for Steem. But I think some kind of support will be forming soon, if not already. I've always seen the 34-36 cent level as being quite a sturdy. In the past, it has proved to hold some substantial validity so let's see if the same applies now. Though, from past experience in trading, I've come to realise supports and resistance just don't die out. They'll resurface, sometimes way in the future, to bite back on unwary traders or investors. Oh yeah, the time looks about ready for a nice bounce.
And to show how much I think that's the case, I went and bought up a little more Steem earlier today, which got powered up straight after. These prices are nothing but a gift, as far as I'm concerned. Those who thought of Steem as too costly in the past, now have a chance to buy in big and fast track themselves to becoming strong minnows, dolphins or more! So I welcome this current price as I'm sure that the reversal will be swift and violent once the turnaround takes place.
I've been banging on about the "pockets of power" theory for ages now. The developers ultimate vision of what the Steem blockchain "should" look like. Almost everyone complains about the distribution model being so very unfairly skewed. Well, I guarantee you that when we head back up, that overall situation will be addressed to some degree, at least. And the longer price remains low, the more time folks who actually "believe" in this platform, will have to invest and "power up" their influence stake. And I can't wait for that to happen as we're all in this together. Competition doesn't even exist in this space.
Therefore, the plan is this. I'm buying more as price continues to drop. I said at the beginning of the post that I reckon we'll see a bounce. And I'm sticking with that premise. But we don't know if it'll be a pullback to the overall downtrend or the beginning of the inevitable upmove. Nobody can predict that. But as long as you have your strategy in place and stick to it, like I have been doing, emotions and fear will never rear their ugly head to mess things up for you. There's a huge bull run on it's way, make no mistake about it. And you sure don't wanna miss out when it arrives.
Invest or HODL. It's as simple as that. :)
