Hi steemians,
Just thought I'd make a quick post because STEEM may be having a small break upwards right now.
As a trader I wanted to show the charts I'm looking at.
This chart shows the 1 day MACD on poloniex. I've put a red arrow to show where it changed from red to green before, and another arrow because it looks (to me) like there's a chance it could be changing from red to green soon - but only time will tell.
Note however that all the other traders out there look for these signs too(!), and so will often buy 'before' they think there's going to be a change over - and when it actually changes from red to green, you may have missed the best opportunity. In fact, it could be time to sell once the change over occurs, if the upswing stalls at that point.
Disclaimer: I just bought a bit more STEEM so I completely don't want to suggest people buy STEEM (because I've just bought some, and I could decide to sell soon after posting this). Instead, I just wanted to post the charts that I look at in case anyone is interested. Also, of course it's nice for everyone involved if the price of STEEM goes up rather than down!
Here's another picture which is the buy/sell graph on poloniex. I've been watching this for a while, and the buy side seems a bit healthier today. (However these charts change all the time, so tomorrow it could be unhealthier again!)
Finally, here's the graph from coinmarketcap:
I've circled the recent activity which shows it's been flat for a while, but now shows what could be the start of an upswing; or it might not be. Only time will tell. It also show a recent 'higher low', which is something I normally look for, as a positive signal.
Disclaimer: This is not trading advice.
I made this post just for interest, and discussion, and not for any advice for buying and selling.
Please let me know what you think?
Also, I'd be very interested if people have advice on the best way to present this type of stuff without suggesting buying/selling.
Or whether posting this type of stuff is interesting or appropriate? Thanks!
Despite other coin i can say STEEM has a correct price and this is why:
2.Has a real social value.
3.It has a growing image among crypto users.
4.Anyone can send fast coins anywhere without blockchain problems.
Think about new crypto on the market. Just big scams that smart guys make. Steem will stay top ten or top 5 in next years.
And the most important thing. We will hold our steem even the price goes down. You know why? Because it has a big value for us, the community.
Brilliant comment... exactly my thoughts. And, the type of thing I'd like to put in a post, even, if I can write something along those lines sometime :)
The social aspect is why I decided to commit so much of my funds to be locked up as STEEM POWER, whereas with everything else that i might have substantial funds in I'm always thinking about selling if it looks like there is a possibility of a down-turn.
Well, I think Steem is undervalued :D
One Day Steem Will Be 10$ And Later On 100$ And That's For Sure. 👍
I like your comment. ....just imagining what I could do with my holdings if the price was $100! Like what type of yacht to buy.. :P. Haha.... Now: need to get back to reality :)
I bet, steem will reach 100$ ,someday ,then our lives will changed for ever ,thats for sure. Haha 🙂🚀🚀🚀🚀
Yeah, I never really believed it with conviction about ETH (although logically I thought it possible) - and look what happened!
Even DASH got to $100 and more (but I'm still thinking WHY! with that one ;) )
Exactly , good preview 😎 now we need to wait ,till rocket to moon will launched . Or to saturn ,or to another galaxy's ,haha will see 🚀🚀🚀
Hahahaha
I have read few comments, I guess one will never get tired of imagining how high price could go :D Thanks for a basic analysis, I took from this article the idea that if price is down, actually a lot of traders think the same and then market can move accordingly if they will buy
(Pic source: http://www.northropandjohnson.com/)
Thanks!!! You just cheered me up with that picture of the yacht :D.
There's where I need to keep my focus ;)
I think you called it right, steem price is moving up today.
(Yep, inserted a pic to give it a Youtube-analyst feel haha)
I know there is a report somewhere on how much power down steemit users are doing daily, can this be used as an indicator on steem price movement too?
This I'm not sure if this data is out there, might be good to know too- how much steem/sbd is sent to polo, bittrex, blocktrades from steemit accts and how much coming in.
I wouldn't know what to do with this info, still learning on analysis, just random thoughts lol.
Love your composition with your 'youtube analyst feel' pic :D
But, actually, I haven't been looking at steem right now - more concerned with BTC... because if that drops it can cause everything else to drop and completely knock out what TA says it should be doing! Next few hours / days are critical ;)
Yeah. I've been watching videos on this august's segwit impact to btc price. Scenarios presented
It would have been nice to hear predictions of it not going down though. How do you see this playing out?
To be honest, right now i don't think the market cares at all about all the stuff going with segwit / possible forks - and that, at the moment, all the market action is just based on increased adoption (if this is indeed the case), and 'technicals' (I.e., rather than 'fundamentals').
Still, if a hard work were to actually occur, I would expect huge amounts of turbulance. I'm hoping there won't be a split, and for segwit to get adopted via segwit+segwit2x signaling before Aug 1st when uasf would occur - but I really don't know.
In any case, I don't personally hold much BTC these days (but I do trade it). My holdings are mostly a split between alts and USD. I keep to USD to reduce risk, and also allow for the opportunity to buy into any crash :)
Funny we were just discussing this and now... the market is down to $93B with double-digit negatives on most coins!
I think I should sell my house and get hold of as much crypto as I can. Lol. Kidding. Will never do that.
Lol indeed :)
Yes, it is funny... but that's often the case: the volatility gets less and less, and suddenly it will either break up or down with a lot of force.
Personally, I wouldn't be completely surprised if it pretty much halved from its peak...so maybe e.g. $60B or less. If it did, I'd definitely be looking to buy back with a lot of my cash that's sitting out at the moment. But I still have a lot in crypto too, so I might be looking to offload a bit more on any opportune bounces :)
Yeah. The first time i saw the bloodbath i almost cried. Now that it's my 10th time to witness I just sit back and wait for the movement up.
And buy as much on bargain tokens! Sale! Sale! Sale! Lol.
I hope you're wrong about the $60B though...
Steem has dropped more than 10% but this is not fault of steem as the whole.market is in downtrend now.
I hope steem can get stable around 1.6 mark
Agreed
I hope it will raise. I wrote some post yesterday about the possibilty of market price manipulation, but at all i think steemit is some great plattform with huge potential. Since we did not even reach the one million user line, it's really in the early adopting phase, and after we reached 1, we will reach 10 much faster and the raise will be unimaginable.
Hope so! Thanks for your comment.
Thank you @xaero1 very good Job..resteemed
Many thanks!!
Thanks @xaero1 for sharing your point of view.
Steem found his support and will start to rise, My p.o.v. the price after one month will be $3 and over $10 in the end of the year.
The post is good , I will resteem it to my 841 hunters after I post Market Brief.
Awesome! thank you :)
Resteemed it mate
Please check my this post when you have time and let me know your point of view..
https://steemit.com/steemit/@lordoftruth/get-started-fast-with-steemit-for-new-steemains
Many thanks - that's awesome! Also, sorry - but yes, I had not forgotten about your post. I will make sure I look at it :)
I resteemed it
But there something wrong because I can see it in my blog !!!!!!!!!!
Oh well, nothing we can do about gremlins/bugs in the software! ;). But many thanks whether you are able to resteem it or not!
I resteemed it mate
The post was diplay in my blog and after few seconds disapear
Really is so interseting
I did not face something like that bug before
I will wait for your next post to resteem it to see if I will get this bug again !!
As I can resstem it any more
I post about you and your post
Hopping I am doing well
https://steemit.com/steemit/@lordoftruth/coffee-break-great-steemain-to-follow-xaero1
Wish you a great friday
Many thanks!
Always you are welcome
Thanks for great support
Great post @xaero1. Upvote, Follow and Resteemed. Steem On!
Thanks very much!!
It will surely go upwards, i just bought more steem because I do not want to miss the TRAIN. :D
Yeah I know the feeling.
Although so many times I buy before what I think will be a break out and turns not to be; other times I buy after the break out but at that point the break out stops as goes now further! TA can help, but it's always still a game of probabilities/guesses ;)
And itt did not breakout this time as well damn, i think this segwit2x issue is stopping every breakout and there will be none until that issue is solved, market is in fear of btc split, so alts are just bleeding, steem is still strong, have not lost much while, while there are many coins which have lost more than 60% of their value.
I'm not sure how much segwit has to do with this.... more that just after any huge rise in something, the prices will always fall after - while people take their gains.
Yeh that is must thing, everyone want to enjoy what they have earned, not always but most of the time. In the market, everyone is talking about SexWit2x so i am sure it has something to do with this whole scenario, but one thing is for sure crypto is not going anywhere so does our belief ved steem.
I remember when Litecoin exploded in value because they were going to implement segwit. But at the point it was actually enabled, the price tanked. In others words, in this case hype was more important than anything concrete. And segwit2x is another kettle of fish altogether :/
Thanks for the update! I'm pretty new to currency trading... I always enjoy reading blogs that talk about the current trend. I'm sure Steem will continue to rise! :)
Thanks!! I can't predict if steem will go up or down, but I can say what charts I study and what signals I look for :)
Any signals in particular you recommend a noob should be on the lookout for?
Well, as I was saying in my post - the main thing i was looking at right now is the poloniex steem chart with the 'candlesticks' set to '1 day'. Then, what you need to do is wait for the lines on the bottom part of the chart to switch from being 'red' to 'green'. But it's not that simple since many traders are looking to buy on exactly this same signal (red->green)! So, to be sure you catch the break out, you may want to buy before you think it's about to change from red to green. However, often charts have a nasty habbit of not doing what you think they look like they're just about to do!
Another way is to just stare at the chart 24/7, and try to catch the break-upwards exactly if and when it occurs! ;)
Note: This is not trading advice, btw :) also, there is nothing certain about this red->green change guaranteeing a price increase...instead, this is just one particular strategy which may or may not work.
LOL. Oh okay... I'll be sure to wear my contacts when I stare at the screen 24/7... helps so I don't have to blink as much! :P thanks for the advice btw. Solid! I may not understand currency trade that well... but I do know the difference between red and green now. lol
Great. And good if you didn't buy yesterday like me, as the whole crypto market is red, and steem got swept up in it. On a day like this, all the cryptos on the first page of poloniex are shown as red (you can take a look ;) ).
Great post, thanks for sharing! It's nice to get a bit of insight into how traders think/the graphs they analyze. Since I don't day trade, I haven't been paying too much attention to those types of trade signals, but I think it's worth learning about and at some point I may even venture into the whole day trading thing.
Thanks!!
I have to say that day trading is not to be taken lightly - if you value your time, that this! :/ I'm hoping to use some sort of automated trading system to assist me - whether that's using something out there or writing my own (which I've planned to do for a long time, but have done so yet :) )
Yeah, between my full-time job, working on my first vr app, hanging out on steemit (of course) and trying to have somewhat of a life....time is definitely something that I'm often in short supply of. If there's such a thing available as a good automated trading system that actually works, that would be the best option for sure. Years ago I briefly dabbled in day trading (having nothing to do with cryptos) and bought this expensive automatic system that was supposed to be amazing. It was SO terrible....I may as well have just been guessing as that probably would have worked better. I'm sure things have gotten a lot better now....especially with the whole big data thing, AI technology, etc.
Wow that's so cool...you're more ahead of the ball than me (even if that particular system that you tried didn't work at the time)!
However, my experience is that crypto behaves (or, to be more precise has behaved) in a way that is on a completely different level from anything else (stocks, commodities, whatever), in terms of having a great chance of predicting things and making money.
For example, if something has been flat for months, and suddenly starts rising, I pretty much expect for it to double it's value! Where else can you get that return? :) Likewise, if it drops, though, I expect it to half! Doesn't mean it's at all easy to make money trying to trade every day - and in fact most days I seem to be losing money right now ;) But I've found if I can be patient and perhaps even wait all year for the one moment when a break out occurs, it can more than make up for all the other trades which didn't make money/lost money!
Problem is: how you can you stare at a chart 365 days/24 hours, waiting for break out that can be over with in under an hour...and sometimes under 5 minutes!
So, that's one of the types of thing I really want to look into trying to code up:
So, not actually that complicated possibly...main issue that I normally stumble at is trying to get hold of the required historical data.
Right, now that i've just written this down, I've realised I need to stop wasting time on steemit and get back to actual work! :P
You should totally build that system! I would definitely not say I'm ahead of you at all (exact opposite in fact) but thanks for the compliment :) You definitely seem to be onto something...
Can't you get that historical data from coinmarketcap.com by clicking on the specific coin, then clicking on 'Historical Data'? It gives all the historical price data but maybe you're talking about wanting something more than that and I'm just not following.
Also, have you heard of santiment.net? I was going to go in on their ico but changed my mind at the last minute. It looks really neat though...it's a platform for crypto traders that offers market data feeds, news wires, and crowd sentiment insights for the blockchain world. You may find it valuable with what you're doing. I haven't tried it yet myself but I thought it looked interesting as soon as I saw it and it kind of stood out to me above some of the other ico's I was looking at at the time.
Anyways...good luck peeling yourself away from steemit to do more productive things for a little while :) Hopefully you managed to!
Thanks i will it check it out!
And thanks a lot for your great supportive and motivational coments :)
I wish you the best with your own trading 'game'.
we will see the break up, just remember my name! gentle
Ok.. will do that!!
I guess there could be possibilities to buy under 1 USD, but i think we won't see a crash to 10 cent or something like happened before. Hope it will go up for you and wish you much success
Agreed, and thanks!
Thanks for the post. I hope we all will see Steem rising to that 10$ mark soon. :)
I could live with $10 ;)
Thanks, those are good informations for us, new to the cryptomarket!
Thanks.
The whole market has gone down today, but I think my points are still somewhat valid ;)
That's great news positive signals pouring in :)
Yes it was, but today had other ideas! Everything is in red :(.
I still think it can recover though, but only time will tell.
Good day for investment purpose
Yes, it's a good day to buy (well, just in the sense that stuff is cheaper than yesterday)! ;)
i hope that upward trend continues
The whole market took a dip today ... but maybe it will recover!
Nice post @xaero1
I like it
Thank you very much :)
Hopefully it will rise ! Rise a lot :P
Agree ;)
Steem will raise.
Hoping so! But we can't know with certainty ;)
We will see the steem raise soon my mate! i hope im right over here, i cant afford much put let's say im all in.. Continue posting! It's nice, i like to interact with people, interested in the same things ;)
Many thanks for your kind words!
May the force be with everyone who invest in steem @xaero1
I concur with this message!! :D
I agree with you man, Steem will grow, hope will break that wall. I believe myself that Steem will reach $5 this year :D
If we all believe, it must happen! ;)
True!
Este tipo de informacion siempre resulta interesante y apropiada, muchas gracias por compartir este tipo de informacion @xaero1
Thanks for the feedback on that!
thank you very much!!
this information is very useful for me!!
UPVOTED.
Thank you :)
I enjoyed it. Thanks
Cheers!
nice information and great post sir @xaero1
Thanks. Useful perhaps, if you want to get in trading, but probably not so much use otherwise ;)
That is very useful for me
Steem Looks Promising :D Let's Hit the Upward Chart what say ?
I say 'yes' ;)
Thank you for sharing this kind of information. Trump loves you.
TY ;) I love Trump too :P
Thanks for this useful Insights !! @xaero1
Thanks very much!
A good day for traders @xaero1
Maybe. But I'm not sure I'm personally in the mood for trying to catch 'falling knives' today! ;)
Waiting for a big catch@xaero1? @xaero1
When the market is crashing, people often refer to trying to pick and buy right when you think the price is going to be the lowest it will go as 'trying to catch a falling knife' :). This is because it's very difficult to know when the market has reached the bottom, and you will typically get injured ... just as you might do if you were trying a to catch a knife! :D
Hahaha you are right, I will wait for big fish catch @xaero1 good information
great post @xaero1
good job, i like it
I really like your post @xaero1
Awesome
Thanks!
Thanks for the update! @xaero1
Thanks.
Also I checked out your blog, and will be interested to follow.
In that case i would say it was not a wise decision to sell off your 10 STEEM which you got for free in Poloniex..haha
Well, if you've seen the charts today.... it was actually a bloodbath, for all crypto, and steem got swept up in it too :(. So in fact, I should have sold the steem I bought earlier but didn't - and therefore took a bit of a loss. Anyway, it's all fair, in market trading!
Up's and down's are a part of trading. What i personally feel important in trading is PATIENCE. Sometimes prices goes down but if we have some patience it will give you profit for sure.
A lot of the time patience does pay off. Although other times cutting loses is a good plan too ;)
Yes but it's only advisable when we see a better opportunity and we are confident we can make off for those loses. Otherwise it is always better to hold as we never know what can happen in next 2-3 days :-)
Sounds sensible :)
Good news. I was expecting steem to start moving upwards.
Well, we'll see - TA just helps making guesses ever so slightly more educated.
Actually, BTC isn't looking too happy right this minute - could throw a spanner in the works :(. But the next few days are critical! :P
I has resteem your artickle
@xaero1
Cheerz
thanks for sharing your knowledge.
Thank you
Good news @xaero1
Thanks...but I'm not predicting the future though(!) - only discussing what may or may not happen :)
There are big sell orders at 0.00075 and 0.00076
Cool Post - i upvoted it.
Yes, and I think we might need to see the order book on poloniex evening out more first, before a significant price rise could occur. But I've also seen cases where the order book hasn't seemed to matter so much.
Very true, sometimes these sell walls just vanish. Thanks for the vote, you got a new follower!
Hey, thanks :D
Are you still using poloniex for trading? Or only for checking the trends? I've seen a lot of bad opinions on it's issues.
I had BTC still sitting there from last time I bought, before I gave up and sold. So just used that to buy again this time.
I'm happy with either bittrex or polo - if they've now sorted that issue finally.
But even if I was not using polo for trading I'd still use their charts for technical analysis as they're very well done and useful.
guess it could crash down to about 40 cents, im no profi, just some prediction
You could be right. I'm thinking around $60 for worst case since that's around the 78% Fibonacci retrace level....but I'm hoping not, of course.
Great news....
I'm not making any predictions - just showing a bunch of charts. Only time will tell what actually happens!
Thank you for the information I will use it wisely
is really poloniex disabled steem !!!!!
It was working fine for me, today. I just transferred out the steem I bought yesterday to my steemit account to power up! Took a small loss, but I like collecting SP :)
Wait for the waiting information
thanks for sharing @xaero1
Thank you
I do not think your post is very good @xaero1
I like it,pleace voet me
Do mean 'I think...' rather than 'I do not think...? ;)
If you check your blog, you'll see I upvoted a couple of your (pretty cool) posts :)
Hey you ate the best post..
Your posting make information for all people
You are one ..
@xaero
Thank you