Oversold Extremes

mywhale (53) · 7 years ago

Hello @cryptographic,

Extraordinary good trade update. Unlike all creepy signal providers, you're providing the analysis of the valuable market times. Incredibly good idea & I believe this must be the last time that we see STEEM & BTS in a sale. Never again we'll not get any chance to buy them in this dip.

~@mywhale

$2.05

cryptographic (64) · 7 years ago

It very well could be "never again" for both STEEM and BTS.

Even BTC is showing signs of short term health. The provisional daily chart below shows a pin through the 200 DMA yesterday down to the 61.8% retrace level of the move from lows. It's still fighting a big daily short setup, but the 7900 level looks solid intermediate term, with 9000 providing initial support. 11,800 looks to be the first resistance BTC needs to get through, but it might take some time.

$3.81

4 votes

beat-the-bookies (63) · 7 years ago

@cryptographic - What are your long term predictions regarding the price of STEEM and SBD?

$0.00

What’s STEEM really worth?

cryptographic (64) · 7 years ago

$2.92

beat-the-bookies (63) · 7 years ago

I see, you're extremely bullish on STEEM.

I hope the market will came to the same conclusion as you did. I like this platform and I'd like to see it prosper.

$0.00

steemwija (58) · 7 years ago

@cryptographic - Oh Sir, I missed this opportunity... I made a big mistake, I was panic Sir... :'(

+W+

$0.00

ervinneb (61) · 7 years ago

Also BTC is about to close above the 200 SMA. Which will trigger a lot of buy orders across the board.

Steem has a very serious support at 2.50 level and BTS is also at a very good level. Definitely entry points are good at the moment.

I would like to remind the traders/investors to NOT buy their crypto all at once. If you buy something buy 1/3 or 1/2 here and then add once your position shows profit. Or in general if you like Steem from 2.50, buy it from here and then make a plan where to add to your position. Nobody ever can know for sure where the market is going, so better be safe than sorry !

Good luck to everybody, let's hope this bear market ends soon.

$2.04

cryptographic (64) · 7 years ago

Yes, price recovered and we got that close above the 200 DMA, leaving a pin down through it.

Great advice about scaling in and never buying everything all at once. As you say, nobody can ever know for sure.

$0.06

gold84 (63) · 7 years ago

@cryptographic this is buy time for steem! Crazy to see steem went to $2 again, and if we think about it now almost 3, its 3 times compared to how it was in average 1 for almost 2 years, so people need to know this and post according to this.

If you think steem was at $6 2 or 3 weeks ago, and now it pays half, I would not see it that way. Lets think when steem was 1 for around 2 hours since it started.

We are on incredible times, and once we reach the floor at $6 it will be crazy, then $10 , then $17 , then 30 and so on.

People that have passed through all the steps and all phases of steem, and that know all the plans for it, and all the developments that will happen, would never sell.

I thought most of the steem funds around 70% were powered up, but it seems just 50% or less, because steem was at 1 billion about 2 or 3 weeks ago, and know around the 500 million in marketcap. So there is a limit there, is there a way to check the amount of steem that is already powered up?

If that is the case, if we see 400 million or so powered up, its very difficult that it can get lower than 1.80 or $2 USD per steem. It would take weeks, and I believe the ones that powered up and see the real power of this investment would not let it go!

Thanks for your analysis!

Regards, @gold84

$1.98

cryptographic (64) · 7 years ago

Buyers are currently getting in at fantastic prices. That being said, they are having to be very patient since there is extremely light volume. Hopefully it's the selfish discontented whale who is selling to the smart money that is buying.

BTW, the best source for the basic data is here: https://steemd.com/ By my calculations, there is around 188,000,000.00 STEEM powered up, almost 75% of circulating supply.

$4.00

gold84 (63) · 7 years ago (edited)

Hi @cryptographic thanks for the follow up! So, this means that the price of Steem can only drop down to 75 cents in a big dip. The time for recovery should be faster, than the 3 months it takes for the other volume to power down, if the worst case scenario happens (that we know it will not, at least should not, for all the good things that are going on for the steem blockchain).

Regards, @gold84

$0.00

veleje (49) · 7 years ago (edited)

I'm going to be watching volume here as we are getting this, bounce for now. If volume will start decreasing as prices goes higher, this would suggest that more down move may be in cards. No guarantees though, but you get here and there odds on your side.

Something interesting. I have some BTS that I'm planning to buy some (more) EOS with them. And man, EOS in BTS terms didn't move one bit for more than a month now. These two are like pegged for now lol (34-37 BTS for one EOS) If this continue, my stink bids will never get triggered!

Oh, and good call on this reversal so far! Lets see what will BTC do close to 10000 (seems like everything is moving with the BTC these days)

$1.95

cryptographic (64) · 7 years ago

I checked that out. Pretty much the same with STEEM too. Everything else has been trending up vís a vís BTS, all at a rate on par with the USD, which means that we are seeing a true washout in the world's favorite blockchains relative to BTC, ETH, USD, EUR; you name it and BTS, STEEM and EOS are getting sold, on very light volume, I might add. In my opinion, that's a beautiful setup for the long term buyer.

$3.98

taskmaster4450 (78) · 7 years ago

Thanks for the TA @cryptographic. It is certainly a test of one's nerves. Fortunately, I do not care a bit about the price of either. At the moment I dont have fiat to put into either token and I believe fully that we will see much higher levels.

Everything that is on the agenda (that we know about) only adds to my conviction. The FUD out there is going in full force which mirrors the advancements of both blockchains.

I am not trading these tokens so the ups and downs are meaningless. The only think that disappoints me is that SBD is pulling back. I liked the increase payouts on my posts.

But hey, cant have everything.

Maybe SBD will move up with STEEM.

$1.86

cryptographic (64) · 7 years ago

Yeah, for anyone who is long term, daily price action is really anecdotal. I'm pretty much in the same boat since I finished buying back some time ago already. Got what little dry power I have left on bid for EOS, and that's it. Nevertheless, it's still a good buying opportunity for those who are still waiting.

$5.06

venox (48) · 7 years ago

@cryptographic I have an idea and I would like to discuss it. I want to buy $ 10,000 from the steem coin, and I will add it to my steempower. Is this profitable?

$1.64

cryptographic (64) · 7 years ago

The only thing I can tell you that might remotely resemble just another third party, independent opinion, would be to say that it is what I've been doing and I'm very happy with my decision. Of course, everything could always go to hell in a hand-basket at any time, which is to say that there's always the possibility of being wrong. I'm very bullish, but I'm very much aware that this is a high risk investment that is correctly accompanied with the warning to only invest what you can afford to lose.

$3.89

venox (48) · 7 years ago

You have thought successful entrepreneurs. Your advice is frankly good and at a high level. Deserve appreciation and respect ♡
thank you ^^

$0.00

newageinv (70) · 7 years ago

I bought some Steem this week when the bloodbath started. Looking for some good volumes on the bounce. Volumes have been lackluster when price is recovering so would like to see it truly come back before adding to position. Buy and Power Up!

$1.57

markzuckerbergs (56) · 7 years ago

Ups and down are part cryptocurrencies. A little rumours can create FUD among the traders and price fall downs but the most important thing i have seen that it recovers very rapidly. I don't have fiat to buy crypto otherwise this is best time to buy cryptocurrency its like we are getting a huge discount in crypto sale. There is nothing to panic it happened due to the Binance and SEC regulation rule. Everything will be all right in few days. If you have lot of steem like you have you don't need to worry about market crash because we can earn steem and recover we get some loss in other cryptocurrency. All i can say is buy the dip.

$1.48

thorr (47) · 7 years ago (edited)

"Remember, buy low, sell high" well said. This is simple tactic to get success in cryptocurrency .I did not panic in recent dip instead i bought some coins. This type of dips give us chance to get good profit at little period of time. Steem and bts are in great dip so we get good chance to buy. Rumors of a Binance hack caused a flash crash in crypto market but it is temporary nothing is fundamentally changed.
This is a better tactic than waiting until prices are high and then buying when everyone else is or panic selling the bottom.

Buy incrementally as the price goes down, creating an average position and aiming to buy more as the price decreases further.
Wait until the price settles, and perhaps even shows signs of recovering, and buy at that point.
Set buy orders at lower prices than the current price and let them fill. Setting buys just before historic support levels, large “buy walls,” and psychological levels is an especially good strategy (as prices tend to do at least a quick bounce off these levels).

$1.47

https://tradingsim.com/blog/oversold-market-condition/

sam009 (55) · 7 years ago

The oversold bounce is a commonly occurring phase in the security. An oversold bounce is typically a counter trend rally as price corrects itself into the decline. The oversold bounce occurs during the selloff period when it is too severe. Sometimes, the oversold bounce is referred to as a dead cat bounce.

Prices intermittently bounce after a sharp selloff only to resume a new wave of selling with the bounce failing to be anything meaningful.

A dead cat bounce can occur for several reasons. The most common being that it is a result of weak long positions or buyers coming into the market. However, the failure to push the price of the security any higher often leads to the buyers capitulating and eventually the selloff resumes or at times worsens.

Oversold levels in an uptrend is ideal to buy the dips as price falls and corrects itself in the uptrend.

I think it's time to take advantage of oversold condition and convert fiat to cryptos specially to steem .

$1.46

mejustandrew (58) · 7 years ago (edited)

I believe that the drop is over, everything seems to be back on the green side again. Steem is doing pretty good too

Same for Bitshares

But I guess that there is a lot of room to go up too, we will see what happens on the mid term, I am really curious.

Have you bought something with these discounts?

$1.45

theguruasia (67) · 7 years ago

@cryptographic,

More so once the hourly starts looking strong. The 4 hour is starting to generate buy signals too.

This is the moment I was looking for! Now it's time to do another USD => BTC => STEEM conversion! Thanks for sharing this useful chart analysis! Buy DIP and Sell HIGH!

Cheers~

$1.44

blazing (70) · 7 years ago

Buy low sell high that's the mantra of the crypto :)

$1.42

kamchore (70) · 7 years ago

Yes Steem & BTS is dipping down due to oversold & FUD. I feel sorry for people who are selling Steem for nothing. People who have Steem should show some patient and HODL. For the rest of people it's a right time to invest some fiat currency on steem and get a lot of profit. Thanks for sharing @cryptographic

$1.42

adnanrabbani (70) · 7 years ago

Excellent analysis friend and i agree with your thoughts both steem, sbd and bts are low right now and i think it's great chance to buy and hold some steem & BTS now and i would not be in a mode to buy more SBS's because buying a sbd now is might be little risky reason SBD is actually peg with us dollar and there is fair chance that we might see sbd back to 1$ again, that's not a advise friend just sharing what my brain says. thanks for sharing your analysis with us, Stay blessed.

$1.39

steemwija (58) · 7 years ago

@cryptographic - Sir I made a big mistake without hearing you... I invested on 2 sh!t coins & it made a big loss on me... So far I did everything as you said, I followed your guidelines, but greedy mind of mine made a chaos... :(
As a result of that, at the best moment, I missed buy back Steem & Bts :(
Sir can I request a thing? Can you please provide us, a weekly market analysis of yours... In that way, I know there is no way to feel this bad experience to anyone who is willing to read your blog posts Sir... Thank you for this information Sir...

+W+

$1.35

postpromoter (63) · 7 years ago

You got a 1.65% upvote from @postpromoter courtesy of @cryptographic!

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$0.11

lanagelkhair (42) · 7 years ago

🤗🤗🤗🤗🤗

$0.03

beyfendi (52) · 7 years ago

Decentralized, zero third party risk is a no-brainer, in my opinion.
But that doesn't mean they will necessarily be successful with the concept, and that makes me think too. They could always fail, but the idea is solid I think, and someone will succeed with it. For now, my bets are on BTS being one of the successes in the niche. Again, it's not guaranteed by any means, but it's my best bet.

I think "Jackpot! '' :)))) @cryptographic

$0.00

abhicrypto (59) · 7 years ago

Thank you @cryptographic . All those people who might have purchased bts , steem after your post must be sitting in hefty 10% profit by now . Steem , Bts have a great future ahead . It's time to buy the dip and increase our holdings .

Market is oversold. When the market is oversold then it's time to buy. They can keep falling for a good while.We're about to see a few fantastic up days this week and next.

One should know two rules when it comes to cryptocurrencies : -

Buy the dip.
HODL .

$0.00

as1991 (44) · 7 years ago

I heated this situation, market is down down
but I asked some people no no many people and they told that currently position will change
so I think that we should waiting more days
and don't be hurry

So my advice to everyone wait
are you with me @cryptographic ?

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milend (48) · 7 years ago

buy low, sell high.

I personally do not hasty to sell and buy it as soon as it is, the actions that rush is not satisfactory results, while the market is dominated by a high price, it's possible to direct people to sell their assets, I guess this isn't always right because the market could just provide a higher selling price. I'm motivated with the words "don't be hasty in investing, do and perioritas right thing might happen."
and my sense there is a good time to sell and earn more profit.
within the market price will be flipped and at the moment, and I think that's a nicer time.
and predictions can only miss the mark, this is normal in invest.
thanks @cryptographic

$0.00

taylor10 (57) · 7 years ago

you are totally right, we should exploit this selloff and gradually add to portfolio. Counting BTS, Steem... bitcoin, which I trust backpedals beneath 6k. I would purchase like an insane. Why? Since I belive in it! We need to learn with this auction being OK with being awkward. Its simple to fall flat, it's simple for individuals to get apathetic, it's simple for individuals to freeze. Individuals ought not freeze in the event that they contributed just what they can bear to free. It resembles over-burdening your auto with this s..t, just not to utilize it inevitably. Keep in mind, just what you can stand to free, don't get over put and above all belive in what you put resources into. I can feel it too this outrage. I surmise that not just awful folks are purchasing when every other person offers.

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masud91 (55) · 7 years ago

Tragically Monday is the point at which I came into an extra piece of fiat and that is the point at which I made some purchases.oh well. by the day's end I've missed this specific opportunity yet I'm certain there will be others in the wacky universe of crypto. I have certainly seen a drop off of action on Steem, in any event in my circles, which appears to be insane to me, this appears like the absolute best time to gain however much Steem as could reasonably be expected before everything goes blast amidst the year.

$0.00

hamidaitlahcen (42) · 7 years ago

This is normal for me because I take the negative news in the market of digital currencies. All the currencies are slated to fall more and more and we do not know where this is going.
But do not fear the future of me steem and Bts
BTS has excellent features and this will make it rise thousands of times in the future
There is no doubt that the Baluchin technologies brought with it a new era of technological progress. The application of plucin as project solutions has provided a level of efficiency and transparency that was not available in traditional systems. All financial, social and technological sectors have been affected by the application of pluchene technologies in the new platforms.
But what does this mean for one of the fastest growing sectors in the world, the social media sector? It would be foolish to deny that social media is one of the greatest innovations of the past two decades. Social media platforms have been catalysts for change in many sectors around the world. The world's largest companies have been involved in the use of social media, and have benefited directly from it.
However, there has been a lot of controversy lately about the popular social media platforms, most notably "Facebook" and "YouTube". The popular video platform has been turbulent recently because of allegations of theft of arbitrary funds and accounts threatening to ban. Many Youtubers, who had previously relied on YouTube revenue as their main source of income, needed to change the tools to stay financially stable.
So this decision hit the heart of the Balkocene communities and digital treaties, where Facebook recently banned all ads related to digital currencies. This control of digital currency ads negatively impacts the market as it determines the reach of its ads and thus its overall market reach.
For me @Bitshares it's really excellent now for me the purchase 0.16 $ andstorage is now $ and that means nothing will reach me more than 1000 times this number and more
Greetings, Sir, you have a direct picture of
@ coinmarketcap.com.

My steem is likely to be back to me $ 1 or less but sure that he will rise strongly this year waiting for $ 60 just by working and promoting

Another note I see that there are people who make my comments by two accounts for me to earn more generous bonuses. @rothberg and @milano1113 🙏🙏

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rasamuel (63) · 7 years ago

Ya, saw that too. Plus BTC is over 9k again. We'll survive the FUDS yet!

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milano1113 (58) · 7 years ago

Yes, you are completely right, let’s take advantage of this selloff and slowly add to portfolio. Including BTS, Steem... bitcoin, which I hope goes back below 6k. I would be buying like a crazy. Why? Because I belive in it! We have to learn with this sell off being comfortable with being uncomfortable. Its easy to fail, it’s easy for people to get lazy, it’s easy for people to panic. People should not panic if they invested only what they can afford to loose. It’s like overloading your car with all this s..t, only not to use it eventually. Remember, only what you can afford to loose, don’t get over invested and most importantly belive in what you invest in. I can feel it too this anger. I think that not only bad guys are buying when everyone else sells, there are also smart money, I guess that’s how they call themself, they are pushing the price lower and lower until there is no seller. Somehow your post assures me what I already know. People are afraid of these low Steem prices, but take a look at it from the good side, the cheaper Steem is the less 💵 you have to pay for it. The same is with rewards, You get more Steem. So lets not panic and let’s enjoy this opportunity, there may not be another one anymore.

$0.00

currysonlyson (50) · 7 years ago

Thanks for the TA. You're definitely my good news source so far. Perhaps I'll get me some steem. Made a mistake earlier of getting some BTC with my hard-earned Sbd. It's all recovering tho so, its all good.

$0.00

aussieninja (62) · 7 years ago

Thanks for the heads up CG! Unfortunately Monday is when I came into a spare bit of fiat and that's when I made some purchases... arrrgh... oh well... at the end of the day I've missed this particular opportunity but I'm sure there will be others in the wacky world of crypto.

I've definitely noticed a drop off of activity on Steem, at least in my circles, which seems crazy to me, this seems like the very best time to be earning as much Steem as possible before everything goes bang in the middle of the year.

$0.00

cutiepie (58) · 7 years ago

steem is doing a fantastic recovery got to very low at the bottom but that was bearish market all the way finally being stable :)

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kouba01 (81) · 7 years ago (edited)

It s time to buy..valuable post. thanks for sharing

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babubekkel21 (41) · 7 years ago

you are totally right, we should exploit this selloff and gradually add to portfolio.

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cityslicker (58) · 7 years ago

Looks strong now in terms of volume too and what you think about the sbd along the way which has been in the parity for so long

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starboye (53) · 7 years ago

extremes low has been reach now is it time to fly we will have to see but buy low sell high is the way to go

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rehan12 (73) · 7 years ago

I would have got in with high volume if I had the cash for right now :)

The buy low sell high point works perfect now !

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richgang (62) · 7 years ago

Steem & bts value will soon be fall yo high price, i think these the right time for me to invest in steem

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jcobs (52) · 7 years ago

Fibonacci retracement level .236 lines right up with the prior support before the crash it had. Don't dump your STEEM rewards save them because look at the white arrow on the MACD ... Is that possibly a sign of reversal?

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jakeybrown (57) · 7 years ago

How's BTS looking in comparison? wouldn't mind swapping the two

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profchydon (60) · 7 years ago

A perfect time to buy steem and even a morr perfect time to buy more bts. Those who panic sell at this stage have no knowledge of crypto. We just hope for a bull market real soon

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resteemia (56) · 7 years ago

sorry for the late respond on this topic.
both market drops significantly & now both markets giving positive pulses of future bull markets.

steem market of 4h graph

bts market of 4h graph

very useful market analysis & impressive finding you simply expressed to the community. excellent article. @cryptographic

@resteemia
reteemed & upvoted

$0.00

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