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STEEM update by wildtrader

View this thread on: hive.blogpeakd.comecency.com
· @wildtrader ·
$29.14
STEEM update
![banner logo.png](https://cdn.steemitimages.com/DQmVngVC3d3dEcR2Y9DPRR4x8QKgnzRLnimnGgW9nKqRYyY/banner%20logo.png)


Needless to say the Steem price has been very disappointing given the strong push in the price of Bitcoin. I am tracking this diagonal that fits within the long term view I've posted here for a long time. However, this is seen through rosey eyed classes and is not the most bullish of patterns. I now only hold enough STEEM to be active on Steemit, but nothing more. 

![STEEMUSD - Primary Analysis - Jul-04 1528 PM (1 day).png](https://cdn.steemitimages.com/DQmX4HWKkAx758zi9m5rUQfUJEr6JJ8Mpbx9jgE6zpBY359/STEEMUSD%20-%20Primary%20Analysis%20-%20Jul-04%201528%20PM%20(1%20day).png)




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👎  
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vote details (84)
@johndogett ·
Looks like steem does not follow BTC anymore.
I think that when BTC will reach 65% dominance only then alts will follow.
Thats what happened in the last bull run.
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@markkujantunen ·
> Looks like steem does not follow BTC anymore.

It's way too early to draw that conclusion.
👍  
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vote details (1)
@johndogett ·
what about now ? lol
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@markkujantunen ·
The pull of BTC on STEEM has been on par of the pull of BTC on Ripple. Ripple has gone up by a factor of about 1.6 only since the December 2018 lows. STEEM has gone up by a factor of 1.7. 

In terms of price action STEEM has always been something of a laggard compared to BTC. STEEM remained in a rut also in the autumn of 2017 while BTC and the other leading cryptos were surging - until SBD exploded in November, followed by STEEM in late December. Also, STEEM plummeted to its all-time-low in March 2017 while BTC had already started moving upwards. STEEM's got a life of its own.
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@steem-ua ·
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