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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #78, "No pulse" Oct. 18, 2016.

in #steem8 years ago (edited)

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Although the price did make a new all time low on Poloniex, this just looks like a total flat out to me.
The price obviously has it very hard to push down any further. IMHO its just a matter of time before the trend change happens happens. Another thing I want to mention is that I see the price having a possibility of doing a sharp dip to ~0.00033 levels in order to do and try milk out the last of the cheap steem. would only be a short term dip and then turning upward.

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We are still below the trend line from the September 24 peak. We have to first break the trend line before we can start targeting higher prices.