https://s25.postimg.io/k9cayt3hb/Steem_Windows_Mining000.jpg

### Steem market just took a huge jump today after a long, downturn. Last night it seemed to have hit a floor with a minor bounce on decent volume. WIthin the past hour, a major sell wall at around $1.02 of about $6k SBD was broken down and it seemed to open the floodgates. You can see some of the buys here:


 https://raw.githubusercontent.com/blakemiles/hello-world/c3933ff29ae3905bb85065e91a1a6112e15654a2/Screenshot%202016-08-29%2015.28.52.png

https://raw.githubusercontent.com/blakemiles/hello-world/c3933ff29ae3905bb85065e91a1a6112e15654a2/Screenshot%202016-08-29%2015.28.56.png

## Shortly after, the market on Poloniex seemed to respond and blow up as well: 

https://raw.githubusercontent.com/blakemiles/hello-world/c3933ff29ae3905bb85065e91a1a6112e15654a2/Screenshot%202016-08-29%2015.56.10.png

https://raw.githubusercontent.com/blakemiles/hello-world/c3933ff29ae3905bb85065e91a1a6112e15654a2/Screenshot%202016-08-29%2016.02.30.png

## Here you can see the depth chart of buys vs sells on both the internal market and the Poloniex market. The large buy wall on Poloniex (the one that looks like a green wave about to crash on a shore of red) is a strong indicator of support and possibly strength on this market rise : 
https://raw.githubusercontent.com/blakemiles/hello-world/64347f60bd33d110772eb0ef288d6032a67a48f7/Screenshot%202016-08-29%2016.08.02.png

## The internal market looks much different, but from personal experience, the Steem sell walls on the internal market have always been somewhat skewed (that may just be personal bias, please swallow a few grains of salt with that statement):
https://raw.githubusercontent.com/blakemiles/hello-world/64347f60bd33d110772eb0ef288d6032a67a48f7/Screenshot%202016-08-29%2016.08.21.png

The important test now will be if it can continue, or if it was just a minor pump to test the waters or if a few individual sellers were looking to establish a better selling price before selling off more. 

The timing is interesting because it falls on the heels of the most recent Monero(XMR) climb to very high levels on news of the Dark Net markets accepting more Monero. It had a very sharp rise, followed by a few dollars correction, but still continues. There seems to be a good deal of altcoin volatility (rise and fall) surrounding the current Bitcoin price stagnation at the $570 level. 

Interesting times ahead, as always.

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Steem mining Image from @incomemonthly!