RE: How TA helps me stay grounded when there is price action on STEEM.
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Still going strong today. The volume is very low though. How did all the sell pressure suddenly disappear?
Either there is a bunch of whales who finished powering down/selling liquid steem or Steemit, Inc has stopped selling.
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Also, steem has been flat compared to BTC since August, now starting to pick up. Maybe a whale liked the chart vs BTC and is taking a trade?
Might be the email that went out? I've seen some talk about Steem on YouTube and twitter. Good time to buy the rumor about SMT's but then they usually dump when the news hits and the crowd buy in.
A possibility is that bid bot owners have been creating the sell wall rather than impoverished authors trying to pay bills. If so, perhaps the bid bot businesses have exhausted their supply, or possibly just don't want to keep selling at low prices. They might want to wait for SMT hype to continue dumping.