Something peculiar with Steem's chart

in steemleo •  last month 

Just a random check of Steem's price

I was doing just a random check on Steem's price today. Something I do just about daily. But then some things drew my attention when I shifted the time frame to just 2019.

First of all, the price in both USD and BTC seems to have bottomed out the last month. The trend on that short time period is up and there is quite a straight line you can put under that bottom. Normally I am not into those kind of things, technical analysis and all that mumbo jumbo... But here it is clear that both the USD and BTC line are bottoming out. And that in my opinion is good news.

Knipsel.JPG

Crazy volume

But the most peculiar thing is the volume, in the weeks just before the (small) rise. Volume spikes of over 30 million USD trading per day. Never seen, all through 2019 and even further. What does this say? Did some whales unload their bags there? And by the lack of volume afterwards, the trend goes up...
I am just assuming here, but, couldn't that be the case? If that is true, that means the demand is getting bigger than the supply, which means we are going for some decent prices again... Again just assuming here. But if anyone knows more about this volume surge, please enlighten me.

Nevertheless, after seeing this, I am kind of reassured things are turning around for Steem. Be my guest to prove me wrong, I am in no way a professional in TA or other voodoo stuff. But, I just try to do my due diligence in all that I do.

Sincerely,

Pele23

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