Like many other crypto enthusiasts, I find myself looking at charts quite often. Yes, it's true I've said I don't necessarily consider myself a trader, and I certainly don't believe that even the best TA guru is prophetic, but they are a good indication of market sentiment, and deprived from positive news or FUD, they can somewhat predict market movement to a certain degree.

Market Depth

Is for me one of those things not enough people talk about however. It's a simple way of visualizing the potential volume of a certain asset. I say potential because it can change at any time, but how it looks, the amount of buyers and sellers on the books, also affect the incoming buyers and sellers. In other words, this simplified visual is very influential just by itself.

I took a snapshot of the current market depth, and I can't help but to like what I see here. A big wall of people who are hungry for cheap STEEM, and a very small wall of people who are willing to let it go at these low prices. Needless to say, this means that HODLing is in full effect, at least at the time this post of mine is being crafted.

So are we bottomed out?

I think so, but of course, how would I really know? There is no way anyone could. Tomorrow the SEC could release a statement that Vitalik is responsible for Trump's election and the market would react with insanity, and yes I'm being a little ridiculous at this point.

The truth is that I believe, and I'm ok with being wrong, that all the recent FUD has been an attempt to manipulate the prices down so that big institutions can get in. An old tactic that has scared most of the retail speculators off the market and has made them dump their holdings at bargain prices. So a better question to ask would be: Are these people done FUDing?

At any rate... this market depth picture is making me smile, at least for now.