It's not a good time to speculate on STEEM by quant01

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steem · @quant01 · Aug 23 '16

It's not a good time to speculate on STEEM

Hello guys,
today we analyze the spread STEEM-BITCOIN (Exchange: Poloniex).

http://i.imgsafe.org/c3c7527421.jpg

As you know the trend is bearish and any technical analysis suggests a reversal. (Previous post: https://steemit.com/steem/@quant01/steem-new-lows-and-now)

The first chart represents the spread on daily time frame. In this case the spread is strong bearish for the medium term and the target is @0.0015.

http://i.imgsafe.org/c3c8d8de66.jpg

It's the same in the 4 hour-time frame chart:

http://i.imgsafe.org/c3c9c6b294.jpg

Look at the ribbons... As you can see the yellow line (moving average) didn't cross the other lines. In other hands... no buy signal...

At the end... the 1 hour time-frame chart:

http://i.imgsafe.org/c3caa8e899.jpg

This chart is still in a bearish trend as the high-low configuration.

We think it's not a good time to speculate on this spread. The best strategy is to be flat and eventully looking for trading opportunities in some others crypto. Any suggest?

Best

👍 helikopterben, domavila, moon32walker, lee5, bitland, nxtblg, quant01, fezragore

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properties (23)vote details (8)

voter	rshares	pct
lee5	2,923,861,040	100%
nxtblg	1,327,726,868	100%
bitland	1,401,820,917	100%
domavila	10,185,637,826	100%
moon32walker	5,225,956,886	100%
quant01	114,374,376	100%
helikopterben	14,041,975,870	100%
fezragore	54,924,558	100%

@nxtblg · Aug 23 '16 (edited)

Thanks for the warning.  I'm now learning with Bitshares that you can't fight a falling market. The hard way :(

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@quant01 · Aug 23 '16

Hello nxblg,
tnx for your post. We don't know Bitshares... We'll check it...

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@quant01 · Aug 23 '16

Do you know MADE SAFE COIN and FACTOM?

properties (22)