Hello Steemers!
Today we had some decent action on the market, so without further due let's get on the charts.
POLONIEX
4 hour Poloniex chart - Aug 10, 2016
4 hour Poloniex chart - Aug 11, 2016
Poloniex price made a new all time low and also a new swing low which could play an important role in the future, making the previous support level a resistance level now.
BITTREX
4 hour Bittrex chart - Aug 10, 2016
4 hour Bittrex chart - Aug 11, 2016
The price on Bittrex droped down to the first support level, breaking the first support line (blue) and hitting the 2nd one (1st green/old/pre-pump line), making what seems to be a bottom and bouncing slowly back to the first support line where its trending at this very moment.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Aug 10, 2016
STEEM/BTC volume Bittrex Aug 11, 2016
STEEM/BTC volume Poloniex Aug 10, 2016
STEEM/BTC volume Poloniex Aug 11, 2016
STEEM indexed global volume Aug 10, 2016
STEEM indexed global volume Aug 11, 2016
Coinmarketcap top volume cryptos Aug 10, 2016
Coinmarketcap top volume cryptos Aug 11, 2016
On both the exchanges the volume has gone down, but remained respectable enough to cause an important price move. Poloniex firmly confirming it's main exchange spot is calling the shots, but has used the support level from Bittrex in the making of the new low.
Overall $STEEM still has a very high volume and is in the top of the crypto trading world.
COMMENT
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.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
Have my charts helped you in any way?Let me know with a comment below :)
Are there more people who are doing TA?
DISCLAIMER
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.
Kind Regards, OZ :)