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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #76, "HOOODL!!" Oct. 16, 2016.

in #steem8 years ago

I'm quite skeptical that this price level will hold. So far there's little evidence to suggest we've found a bottom, and we've already experienced the mini price spike that often occurs after a leg down. Overall the declining chart pattern remains the same, as does my buying strategy: I've got a series of buy orders at various points throughout the order book, with each buy being about 25% below the previous one. Now is definitely a great time to be slowly accumulating, as we're bound to hit a bottom eventually. But it's anyone's guess when / where that will actually be, so I'd suggest not going all in at once and accumulating over time with a cost-averaging strategy.