There has been an amazing amount of selling and volatility in the crypto markets. As newbies sell after buying at the highs and ICOs money continues to exit at break neck speed. The bounce on crypto prices was short lived this morning with little to no real follow thru. Not a good sign for the rest of the crypto coins.
Bitcoin has been holding up the best. With the worst performance on Ethereum and Zcash (surprisingly).
Steem and Steem Dollars (SBD) bounced back really well from fresh new lows late last night. And since most of my holdings are in STEEM and SBD I was feeling pretty good to accumulate a bit more at these super low levels.
I would make sure everyone watches STEEM DOLLARS (SBD) the action there has been very interesting and I'm expecting a big move here in the next few weeks after we come thru all this selling.
Below is a chart with some levels for STEEM (STEEM) - watch these levels like a hawk.
There is some resistance at 0.000533 to 0.000555 we need to work thru.
As far as a sell limit - I've got 0.000402 as a level we need to keep, if we go thru that price level - watch out! We will power slide down with the rest to some new lows.
Make sure you have a clear trading plan, don't panic! Panic selling or Panic buying are never good.
I haven't seen these low prices in a while and I'm expecting folks to start pickup deals once we see an end to selling of BTC, ETH and Zcash.