STEEM bulls and bears battle continues for another day forshadowing perhaps a pump in price this week-end
steem·@gavvet·
0.000 HBDSTEEM bulls and bears battle continues for another day forshadowing perhaps a pump in price this week-end
Yesterday the tussle between the bulls and bears was very active, over 1000 BTC or 5 000 000 STEEM was traded - The very strong defense of the 0.0001750 level by the bulls two days ago led to a few small upward runs in price as the bulls tested the markets appetite for a large pump. The bears obliged by immediately dumping the price back down to the 0.0001800 level. The 0.0001800 became the new flood for the day which was vigorously defended four times.  But the real gems of the day are hidden in the finer detailed graphs. -  The green candles (buys) mostly correspond to the peaks in volume (gray towers) - This is an indicator that STEEM is being accumulated by the bulls, they wait for the bears to place a significant volume of STEEM for sale, buy it up and then stop buying in order to let the bears push the price back down relatively easily. Then they wait for sell orders to appear and start buying again, rinse and repeat. Based on the volume it indicates that the bulls are accumulating a lot of STEEM. What makes this interesting is that lately rapid rises in STEEM price have happened on the week-ends. These signs and strong volume leading up to the week-end could indicate this could be another week-end where the bulls take the price up another notch to set a new price floor at a higher level. Looks like fun trading times coming soon... perhaps as soon as this week-end. -
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