Just got trailed out of Bitcoin longs for a decent profit, going to stay flat for a little while and assess the situation. Was a bit of a disappointing rally - slow grind on low volume - each "break" just led to more slow grind:
Could bounce back, but I see significant risk of a decline towards former resistance above 4000. Will be keeping an eye on it, as I don't want to miss out when it does go, but really not feeling the chart right now.
PS I'm not even bothering with STEEM chart - it is yuck again - can't catch a break. Out of EOS longs for a small profit too, waiting for some clear bullish PA.
PPS I'm on MSP-Radio tomorrow morning with @scaredycatguide 6-8 am Sydney time for those of you who get up at ungodly hours. Tune in to hear me rant, curse and awkwardly trail off mid sentence - will be awesome! If you miss it, the recording will go up on Thursday so no worries. Apologies to anyone I missed in the shoutouts - I want to hump you all so please don't get offended.
Team Aus footer by the amazing @bearone
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You've done well. Sometimes grinding is the least spectacular and satisfying but most consistent and profitable way to go over the long run.
I myself shifted some of my BTC to SBD in the last 24 hours because I see a bit of an ascending wedge (which just broke) and reckon the market got a bit ahead of itself over the weekend. I have a theory on why weekend trading is more volatile but I won't bore you with it.
I'd actually be tempted to get up early to hear you on MSP tommorrow but I do very much value my sleep with 2 small kids in the house :)
PS - STEEM is giving us a great buying opportunity IMHO. It's made a base and showed some of the upside potential it has with the recent spike. I am VERY surprised to see it dipping this far back.
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Hey mate, I'd actually love to hear your theory re: weekend volatility ... it's something I've puzzled over for some time. I remember someone on Tradingview telling me ETH was up because "it's Sunday and teh mining", but they couldn't tell me much more than that so I was a little dubious.
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Probably would end up being a wall of text if I posted it in the comments here.
Might be worth making a separate post for it so I've added it to my shortlist for writing next week.
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Nice comment @buggedout
I can't agree less... Seems weekend has it's hitches... Guess steem spike was bcos of the STMs from @ned wonder if it's sustainable ...i do look into ICOs...
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I think you got your double negatives mixed up there. "can't agree less" means you disagree?
The steem spike was indeed due to the SMT announcement but it shows upside potential from both a fundamental and technical perspective on the chart. Unless the announcement has been shown to be flawed or bogus I think it signals upside ahead.
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Sure...thanks and hey...i couldn't agree more...😋 Thanks for the info...and clarification
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I've seen this rally might be a sad from the beginning. The trend is bearish, how could they so optimistically speak about over 7-8k when we had all this Chinese situation? Before we get 5100-5200 the chart will be like this we have now, trying and actually descending, that's a pitiful truth
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Depends on what time frame you are talking about I guess, but Daily trend is sideways with bullish bias IMO
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Could not agree more with not bothering with steem chart....lol. Though I'll probably post about how it shit the bed again anyway!
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Nice TA @ bulleth. I think, pricing levels need to retest 4000 or 3500/3450 again before the strong up-move. Let's see what will happen.
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Very good Texhnical Analysis
Technical Analysis is best way to predict Market Treads
Higly Appreciated your efforts
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amazing your post @bulleth
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It will be mid-afternoon for me so I'll be tuning in @bulleth. I hope you're in the chat.
But then I'll have to leave early for crossfit.
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The most truthful forecast $)
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Hey what about my prediction of being on msp-radio ... I fucking nailed that call!
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Nice one mate @bulleth thanks for the update
Will try and tune in... What's your take on ICOs
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I don't have a general take on ICOs, I think we'll see a trend towards heavy regulation though and I'm well dubious of ANS due to it being a Chinese coin. EOS remains one of my favourite long term plays and I look forward to seeing Steem based ICOs in the new year!
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Ok thanks for the update...by steem based ICOs what does it mean and what are we looking at..?
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Smart Media Tokens! Have you seen this? Have you heard about this?
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Sure...i remember @ned sent a post and video about it...launching next year...
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