Hello Steemers!
I patiently waited for the last candle in the day to paint out so i can begin doing the #8 daily update!
Already a week of updates done, really enjoying charting all the coins and giving the $STEEM updates!
Hopefully everyone who is actively following the blog is learning a bit and has use of the updates, I know I am, thanks to all the feedback I get from the community!
Hammer candle
*the hammer candle is usually a trend reversal indicator,usually bullish
Hanging man candle
Opposite to the hammer we have the hanging man candle, which is used as a bearish trend reversal indicator
POLONIEX
4 hour Poloniex chart - Aug 6, 2016
4 hour Poloniex chart - Aug 7, 2016
The price kept going lower hitting it well tested resistance line on Poloniex, which ended up in what looks like a "hammer" candle.
BITTREX
4 hour Bittrex chart - Aug 6, 2016
4 hour Bittrex chart - Aug 7, 2016
Bitrrex a swell entered, but only with a slight touch, its support level and started bouncing up swloooly.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Aug 6, 2016
STEEM/BTC volume Bittrex Aug 7, 2016
STEEM/BTC volume Poloniex Aug 6, 2016
STEEM/BTC volume Poloniex Aug 7, 2016
STEEM indexed global volume Aug 6, 2016
STEEM indexed global volume Aug 7, 2016
Coinmarketcap top volume cryptos Aug 6, 2016
Coinmarketcap top volume cryptos Aug 6, 2016
Both exchanges, Bittrex and Poloniex have had a loss in volume.
So has the global volume index and the $STEEM has fallen a bit in the coinmarketcap list.
All thou on the exchanges it looks like this is almost no volume, $STEEM is still under the top 15 coins considered volume.
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 :)
The price hasn't moved aLlot, but the volume shows us a great deal,
this is the accumulation area and that this indeed seems to be so to say the "flour" volume on $STEEM .
If that's correct and $STEEM is still under the top 20 coins considering volume, we can expect a great future, at least as far as the volume goes, which mean that the market is healthy, no matter which direction the price may chose.
Further the hammer candle,
should be a trend reversal signal, be it a start of a major pump or just another accumulation wave, I cant say for certain, but as said yesterday, I doubt that action is long away.
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@ozmaster Yet again. Another well thought out post.
This one's a grand slam boi'z!! Upvote Ozchart for sure.
What are your thoughts on the direction of ETC & ETH? For a new crypto currency fan, I would like both to succeed. I got like $100 worth of ETH.
I'm gonna follow you.
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Every new cryptocurrency fan must know how ATH buyer looks like
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Thanks!
To be honest, I ETH and ETC don't attract me, the market is nice and has allot of volume, but somehow i never really got the gut feeling on it. Not trying to fud here or anything, it's just that it didn't attract me.
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@ozmaster I trade both pairs but I was really disappointed with the DAO and the ETH hard fork. I couldn't believe they bailed out the DAO after they wrote a poorly written contract. I like Factom and I guess ETC is cool but I am not sure what is going to happen after the hard fork.
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Traditional markets IE: NYSE trade Monday - Friday.
How does the prices for BTC & Steem work? Is it all live 24/7, and fluctuates depending on supply/demand?
When I buy "STEEM POWER" using BTC, how can I determine at what price point I am getting the SP? The internal market place is great, but when you buy flat out STEEM Power, its a bit different.
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Hello! Yes indeed! steem can be traded 24/7 throughout the whole year and fluctuates on supply and demand .
About the 2nd question i'm not rly sure myself, maybe someone else can jump in to help ?
I think they pull price out of the SBD / STEEM internal market?
Thanks for the reply and questions!
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@wroman0207 I believe when you buy "STEEM POWER" with bitcoin it goes through the Block Trades exchange. You can check it out here.
https://blocktrades.us/
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Thanks for posting your analysis... would be good if we could be notified when you publish. Do you have an email notification service? :)
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@bimmerhead We need a notification tab on steemit, so when the people we like and follow post we can see it right away. That way as soon as @ozychartart posts some analysis or a trade set up we can be notified and don't miss out on any of the action.
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Click the @username, then "follow", then go to steemstats.com and enter your own username. you can now follow.
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Since you liked my last technical analysis parody, perhaps you'll like this one? :)
@ozchartart https://steemit.com/steem/@satire/steem-btc-technical-analysis-bearish-shoe-bomb
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nice @ozchartart
thanks
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@ozchartart Dig your analysis. I didn't know you were a Japanese candlestick trader too?!
Steem looks very bullish to me. There is a possible triple bottom and RSI bullish divergence on the 240 min and 60 min timeframe. Also, the harmonic crab pattern has formed reversing at the 1.272 fibonacci extension.
https://www.tradingview.com/x/JQGo2p88/
If you like, you can check my analysis here on this pair. I would dig it if you would share your opinion.
https://steemit.com/steemit/@domavila/steem-btc-long-on-poloniex-60-min-chart-triple-bottom-and-bullish-divergence-time-to-buy
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Thanks OZ learning alot
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I upvote U
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