I put in a buy order for steem at .000301 on poloniex...
I just missed the bottom.
It has spiked since then... but what does that mean?
Here is a shot of the last week of Steem. Powering down takes a week... See how close we are to the one-week price spike?
Honestly, I feel that this is a pre-dump pump. As we get closer to the one week mark from the "Great Spike" of 2018 people who decided to power down will be receiving their weekly power down.
When the price started spiking 6 days ago, it shook out the people that wanted to sell their available steem. Any rebounding you have seen from there are people thinking we found a new bottom. Don't buy the rally!
When we hit that one week mark I think we will see a lasting dump for a day or two while people try and sell their steem at a good price, while others are going to try to buy into the bottom. I think we are going to see a few days of double-bouncing from the bottom. It might be a good time to unload now and accumulate as the prices bounce.
Disclaimer: I obviously hold Steem in my account, and have play money on poloniex. I am in no way a financial adviser or should my predictions be written in stone: I am just a guy on a laptop that likes playing with crypto.
What do you think?!
Happy Trading!