BTCUSD
Bitcoin has plunged lower in early Asian trade, currently 3880 from a high of 4000. Further support here, but really not looking good atm. I thinned down my position significantly over night, so not too worried. Will HODL and cost average once the carnage dissipates:
A break below 3830 would bring 3760 and 3500 into focus. Here's a look at the bigger picture:
ETHUSD
Ether traded as high as 347 yesterday, before finishing the day down at 322. This is the first time ETHUSD has closed above 320 since the 23rd of June and could be a sign of further strength to come. Pair is currently slightly up on the day, so Bitcoin strength remains isolated for the moment:
STEEMBTC
Is it just me or do Bittrex shut down STEEM and SBD transactions every time it starts to rally? I asked them as much on twitter this morning:
@BittrexExchange why do you guys keep taking Steem offline every time it finally catches a bid?
August 21, 2017
I also asked Poloniex why they are always offline and whether they thought a class action to retrieve funds would be funny:
@Poloniex Why do you guys just consistently have Steem and SBD offline? You have a lot of people's $$$, how funny would a class action be?
August 21, 2017
I rarely use twitter any more, mainly just to communicate with clients ... but it is great for publicly shaming companies doing the wrong thing. Bittrex have enable deposits and withdrawals again now ...
Anyway that's enough of that, let's take a look at the STEEMBTC chart:
Big down day yesterday, but not enough to engulf (despite Bittrex shenanigans). I maintain the bottom is in (be wary of noise though - 22 is support we have bottomed above there) and I'm looking for pair to begin it's recovery over the coming weeks. Need a break above Sunday's highs to confirm.
STEEM is currently fetching $1.72 AUD, down a little over 15% over the past 24 hours. Also down against the US dollar, back to $1.31 from yesterday's high of $1.78. SBD are trading at around their intended value, with an ask price of $1.02 and highest bid of 98 cents on the dollar at the time of writing.
That's me for the day folks, I'm going to get cracking on this Tradingview indicator to make these fiat quotes a little easier. Should be ready for my next post.
Team Aus footer by the amazing @bearone
This post was brought to you by @msp-creativebot