HF 19 has been mostly positive.
Minnows now have more influence on the platform, feelings surrounding the platform remain positive.
Users have expressed discontent with self-upvoting which at the moment can offer users doubling of their SP within 6 months if upvoting their own posts and comments each daily with their daily voting quota.
The price has come back down after a terrific start to June, currently the price is testing the previous high close of ~63,000 Sats.
I expect the price to bounce off this previous resistance now turned support.
At time of writing, it has bounced from ~55,000 sats which will now be the LOW on the daily time frame.
We are currently below the MONTHLY pivot and I expect the bounce to test the pivot before deciding to break through it or continue the short term down trend.
A break and close above the monthly pivot of 69,500 sats will signal a BULLISH continuation of trend, whilst a break of the LOW at ~55,000 sats will signal the beginning of a trend reversal and the beginning of a medium term BEARISH trend.
STEEM is now largely coupled to the performance of BITCOIN. Gains in bitcoin resolve to gains in STEEM and vice versa.
~Bateman
