STEEM - supply/demand basic | more slow bleed to come steemit 34 mil dump ahead

onepercentbetter (75)in #bitcoin • 5 years ago

Basic of supply and demand, and price of steem probably gonna head down lower via slow bleed effect in the coming weeks. I was just talking about the huge dump by steemit yesterday and following that, they started FULL powerdown and release of 10 mil SP delegation to steem.

On 4hr chart, test the low of 700 and bounce following btc movement. Despite the huge amount above, powering down will take time and as usual they are likely to do it via slow bleed. Possible down channel. Next support level around 680 near channel bottom. Distributed buy walls below 700 to support, might have some bounce to next resistance around 730 before heading for lower lows. Maybe we can see bittrex ATL 575.

stockpile for short : high (more slow bleed)
Short term moving average (day candle) :
RSI :
SBD/STEEM :
Weekly Timeframe :
24hr change :
Marketcap :78
Volume :210
Current supply :
Total supply :
Debt Ratio :
Daily supply :
Total account :

Published by OnePercentBetter