I'll admit I know little about 'technical analysis' of cryptocurrency. It seems to be about expecting them to follow certain patterns. Meanwhile, world events and news affect what people buy and sell. Of course there are trading bots out there that may be more predictable. I just don't get involved in trading, so it doesn't affect me much. Almost all my crypto is in Steem that is locked up for months.
Today Bitcoin is hovering around $8000. Quite a drop some the start of the year. Most of the other coins have followed it.
Steem is well down on recent highs. DigixDAO is the only coin in the top 100 that is rising.
Am I worried? Not particularly. Of course it's tough for those hoping to pay bills with what they make here, but they didn't even have that option a couple of years back. If you bought lots of Steem at $4 it's not good either. A falling Steem price affects the activity here, but I'd advise you to keep posting and commenting. Whatever you make could be worth more down the line. Many will not remember when Steem was about 6c exactly a year ago. And of us kept posting and built up our SP. I'm playing the long game. This is just the beginning for this platform. I hope to see it grow massively in the next couple of years. It really could change lives. I want to be part of that.
It's tempting to try and make maximum rewards with self voting and buying votes, but the latter does not seem to be very profitable for the buyers and you may get judged on what you do later on. The history is all public. I'd rather do what I think is right and improve my reputation. We have the freedom to choose what path we take.
BTW watch out for scammers. There are comments with links to a site that looks like Steemit, but it's a clone designed to get your password. Use a password manager like Lastpass that will only fill it in on the appropriate sites.
Don't panic and stay safe.
I'll buy guitar picks for Steem Dollars
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