I've always enjoyed some trading over the past decade. I've done forex, stocks and crypto. But the learning never stops and there's so much to do in crypto as always. The past faced nature of this industry has me hooked for a few years now, in many ways including but not limited to speculation.
STEEM is a token which we all like accumulating but in recent times it has shed it's trading volumes and that's a concern. While it's important to stake up it's also good to trade it. Even as it has fallen in price over the past year with an incredibly high level of decline, there have always been many trading opportunities this year.
After the lows of 2018, I set up a chart on Huobi for the STEEM/USDT pair and kept going back to it now and then to see the performance as per the strategy I had, adjust my settings if needed and figure out where the price is heading.
This post is not trading advice and please feel free not to follow any of this but to be in crypto or any financial market it's extremely important we learn how to trade. Recently with the falling volumes, I felt it would be nice to trade STEEM/USDT as well.
It's hard to focus purely on this when there are better performers in the market. But nevertheless one of my goals in the near future is to trade this pair on a very regular basis in addition to the STEEM/BTC which I generally do.
STEEM has seen capitulation especially given the constant sell-offs and inflation adding to the constant sell pressure and to me the STEEM/BTC pair feels like it has no floor. Bit worrisome!
But there were quite a number of trading opportunities this year! But the STEEM/USDT is also decent for scalping and swing trading from what I've observed in the past few months.
But I sincerely hope the volumes shoot up on Binance and Huobi. It would be a nightmare if STEEM gets delisted. Not that it will occur anytime soon but the trend has been worrying nonetheless.
Let's not ignore trading STEEM while we're out trading hundreds of other tokens.
Again, don't consider this to be a TA and jump the gun. It's your money, do whatever you want with it. Just my observations and thoughts as I was placing my trades tonight.
Cheers!
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