The age old choice...up or down...which way will it go.
To me, even more significant than the H&S is the breaking of the 200 MA....that is extremely bearish. Unless it turns quickly, the next level looks like a move to the $475 range....
Either way, it does not appear from this that the crypto is going to turn any time soon. We might well be looking at significant lower levels before a bottom is found.
Good thing I am a HODLer of what I have. We see BTS hitting levels we thought we would never revisit.
Such is life in the world of crypto....STEEM and BTS getting killed, you know there is something wrong with the world. LOL
The 200 dma is big alright. Same thing going on with BTC with respect to the 200, but there the Feb. lows are holding. I'm thinking BTC could regain its 200 dma in a healthy way while ETH doesn't. Time will tell, but ETH looks very weak to me . . . relative to its competitors anyway.
I'm not so sure the cream of the crop languishes for too long down at these firesale prices. STEEM and BTS could come screaming out of their lows. They could double literally overnight (which wouldn't take all that much either, coming from current levels). In fact, I'd say the odds of an overnight double in both are much better than those for an extended stay at current levels or even lower levels. Just my opinion though.
Edit: $1.385 STEEM just traded on the BitShares DEX.
I will have to state I never thought we would see these levels again on BTS and STEEM. I was convinced sub $2 STEEM was a thing of the past. I just wish I was liquid at this point.
Oh well, I was happy with my holdings in these tokens a month ago and I am happy today. STEEM, of course, I can keep earning, but BTS I will have to sit pat.
If we hit the $300 level in BTS, it wont matter much...another 5K or 10K will mean little. LOL.
ETH is an odd one. I think a lot of the good news about it has sailed. BTC is still the granddaddy in terms of how people view the crypto world from the outside. Ripple seems to have replaced ETH on the wish list of all the novices.
Perhaps SMTs will put STEEM on the front page with a new ICO craze.
If ripple has replaced ETH then we may be getting close to the end for the overhyped non-starters.
Yes, these prices on STEEM and BTS have surprised me too, but I agree that once we're at $300, a couple of cents here and there won't make much difference, although it really will, but that's a matter of luck, and who will be counting. 😄
$300 BTS sounds so outlandish on one hand...and on the other, it seems almost like a given.
It is really weird but that price seems to make a lot of sense given all that @stan mentioned with BTS 3.0. That is really exciting. There are a lot of EOS bulls out there (for good reason, betting against @dan isnt smart) yet it seems that EOS will be part of the BTS network. Basically @stan feels BTS should be part of any blockchain created on the EOS network.
To me, that really does sound amazing since we know there will be a lot of blockchains created on EOS if it is anywhere near as good as advertised.
The market seems to agree that EOS is the strongest of the three, on a relative basis these last 4 days. I think that means the more conservative of new fiat coming into crypto likes EOS. It's such a high profile "game changer" that it's able to catch more attention from high net worth investors than STEEM or BTS have been able to get. That's just my perception and gut feeling though, but I think that could be the case, and, if so, it's a matter of time until @stan gets things fully in sync.
It will be interesting what STEEM will do...@stan does not seem to mention anything with STEEM and EOS and considering the right betwene @ned and @dan, I would guess nothing is going to happen with the two.
SMTs appear to be the thing that STEEM is going to depend upon. BTS looks like it will be penetrating the EOS blockchains...at least that is @stan's goal.