ScaredyCatGuide Heard the Price of Steem Sing - BREAKDOWN by scaredycatguide

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$11.71

ScaredyCatGuide Heard the Price of Steem Sing - BREAKDOWN

It was a good May and June for the price of steem, but so far July has not been as friendly.  We saw the price of steem breakdown below the key support around .00065 (65k satoshi) yesterday and it continues lower today.

#### Let's take a look at the price action....

![steemprice710.JPG](https://steemitimages.com/DQmbybjhAtVzt9KjNRmJ7QRVeQ93Gh21h54pieoPW4skWnn/steemprice710.JPG)


Looking at the chart above you see the horizontal line near .00065, our support line that steem has broke down through.   This moves has taken back down into the prior trading range of .00040 to .00065.

## Good News

The good news is this recent grind lower along with breakdown through support has been on extremely low volume (see circled area).  It seems like price action is my listless than it is outright negative.

## Bad News

Well, the price is going lower - enough said.

## Going Forward.

Our next support level is the bottom of that prior range that we have fallen back into - roughly .00040 (40k satoshi).   Is that where we will go?  Who knows, but if we do come down to test that level, holding it will be important.

#### Unfortunately, the recent move has led to a new steem theme song:
https://www.youtube.com/watch?v=dqxns-JTTqA
 <center>https://steemitimages.com/DQmUsDx6pen1XAB66xGNezuiZ9RYoXEv9U98MqHzTxFV1dE/15.png</center>

Also, if you still like to invest in stocks and currencies, but want to use your BTC to do it - [1broker.com](https://1broker.com/?r=13279) is who I use!  I like that I can trade fractions of shares, which allows me to buy stocks like AMZN without committing $1k.
___
Best Regards,
![Scaredy-Cat-Guide-Logo.png](https://steemitimages.com/DQmUEjdUFd43ZnRxNNmy4X55dvWrfsqZsBGJrxdCQaxg9bB/Scaredy-Cat-Guide-Logo.png)

![top 1000.png](https://steemitimages.com/DQmdLLBv7nn1D2S4HB2MnZWw6Hp4qdGojLWCRowsgt8jUhb/top%201000.png)![10kSP.png](https://steemitimages.com/DQmX3fWL3FtqLZiZSpFCpvVRikQAXpVQenhVFU6UtLUrpXx/10kSP.png)
**Disclaimer** - All content in this post is for informational purposes only.

👍 knircky, thecryptofiend, scaredycatguide, carrinm, officialfuzzy, getonthetrain, cristi, jasonstaggers, dwhntx, lances, msp-shanehug, ibringawareness, livingfree, strangerarray, inphiknit, intelliguy, msp-lovebot, ptmikesteem, mitchelljaworski, steemprentice, andrewawerdna, mk40, anarcho-andrei, jimmyrai28, runridefly, cryptomancer, matrixdweller, gonzo, oleg326756, bitcoinparadise, manorvillemike, jason, sc-steemit, sacred-agent, crypticus, bola, lymorgan, digitalking, cryptopie, ekp248, mythocurrency, luismarcel84, awarenessraiser, elena000, cloudminer, bosjaya, jupiter5, romka19841201

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@anarcho-andrei · Jul 10 '17

$0.02

Excellent analysis and appreciated the charts in your post.  I remember when Steem was trading for less than .30$ early this year, so the drop I'm not all that concerned about.  I am hoping that it tests and maintains that support at .0004 satoshi.  The increase in price has been a boon to onboarding more people and expanding Steemit's reach.

👍 scaredycatguide, cybercodetwins

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@josephd · Jul 10 '17

$0.02

That would be 40k satoshi or 0.0004 btc, not .0004 satoshi, hehe

👍 josephd

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@anarcho-andrei · Jul 10 '17

Yeah!  Jesus.  You know what I meant, thank God. XD

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@scaredycatguide · Jul 10 '17

$0.04

Agreed - nothing wrong with a pullback.  It doesn't put us in a downtrend and it will just make the next leg up more appealing to noobs for onboarding.

👍 intelliguy

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@awarenessraiser · Jul 11 '17

Thank you for the update and value! :D @scaredycatguide

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@cryptopie · Jul 10 '17 (edited)

$0.13

Steem has a wide price movement, it always recovers.
I'm on with a long position. Just patient enough with all the market volatilities.
Thanks for this input. @scaredycatguide

👍 minnowbooster, scaredycatguide

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@minnowbooster · Jul 11 '17

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![@cryptopie got you a $0.01 @minnowbooster upgoat, nice!](http://minnowshares.net/upgoat/?user=cryptopie&receiver=cryptopie&value=0.01&hash=115)
*@cryptopie got you a $0.01 @minnowbooster upgoat, nice! (Image: pixabay.com)*
---
[Want a boost? Click here to read more!](https://steemit.com/minnowbooster/@minnowbooster/introducing-minnowbooster-beta)

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@scaredycatguide · Jul 10 '17

Yes, so far this year most pullbacks in crypto have been a buying opportunity.

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@fisnikk · Jul 10 '17

The only hope that the price might turn back up sooner than hitting the 0.000400 BTC mark is a possible retest of that broken support level.
Great content @scaredycatguide.

👍 scaredycatguide

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@scaredycatguide · Jul 10 '17

Yes, we will likely need to test that as a resistance level again before moving higher.

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@intelliguy · Jul 11 '17

I like low steem prices as long as they are only temporary.

Lots of time to power up at these prices and do well later. :)

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@scaredycatguide · Jul 11 '17

Yes indeed, I even made the switch to 100% power up posts so far this week given were SBD .

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@jimmyrai28 · Jul 11 '17

Always love to read your script!!!
Thanks for sharing @scaredycatguide

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@kubbyelizabeth · Jul 10 '17

Will you hold on regardless of much the prices drop?

👍 scaredycatguide

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@scaredycatguide · Jul 10 '17

I'm holding my Steem Power for the long-term.  The $ I put into steem last summer I have taken out so it's all a free roll anyway.

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@kubbyelizabeth · Jul 10 '17

Would you say then, now is the time to buy?

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1 reply

@lymorgan · Jul 10 '17

This is not anything to be afraid of - other currencies go and down , we just need to stay in the game for the long term!

👍 scaredycatguide, cloudminer

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@cloudminer · Jul 10 '17

True Flip {ICO} - Already running a transparent blockchain lottery! Bomb! Bonus 20%! Hurry! :)
The platform is already working and making a profit :)
https://steemit.com/ico/@happycoin/true-flip-ico-already-running-a-transparent-blockchain-lottery-bomb-bonus-20-hurry
https://steemitimages.com/0x0/https://gifyu.com/images/20_600x200.gif

👍 cloudminer

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@scaredycatguide · Jul 10 '17

Just a pause on the journey of growth.

👍 scaredycatguide

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@manorvillemike · Jul 10 '17

GOOD news is         ![84094d3a97.png](https://steemitimages.com/DQmPbBi15xctje38zMETm7dGdxmpXSwieFgLXrhrwgjxTDU/84094d3a97.png)has good taste in music.

👍 scaredycatguide

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@scaredycatguide · Jul 10 '17

Yeessir!  I actually saw Tom Petty at Jones Beach Amphitheater back in like 2001.

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@manorvillemike · Jul 11 '17

Good for you. I'm sure you got your moneys worth.

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