Smoke Market Analysis - Holy Rekt - 06/21/2019

in #news
4 months ago

Rekt

It looked like we had maybe finally bottomed and then we got rekt even further. In USD the price of smoke hit a low of about half a penny. It's not that we haven't had any buyers, we've just had a whole lot of sellers.

Aggressive bear

This is a very aggressive downtrend. If we stay below the drawn trend-line we will be at 0 by July 10th. We've gotta be near bottom, people who are selling are selling for almost nothing at this point.

Order Books

The order books are heavily stacked on the buy side. There is 287k smoke in bids above 0.05 bts. If the buyers are serious, I don't really see that buy wall getting broken down. The thing is we've seen buyers repeatedly lowering their buy walls as sellers are willing to sell at lower and lower prices. Once there are no longer people willing to sell at low prices, I don't think we will stay there long.



Get 4.2 Free Smoke Power On Sign Up To Start Your Journey On Smoke! The First Cannabis Community That Pays You To Post And Curate Content You Love..
Sort Order:  Trending

Either they have low patience or don't believe in this platform. Absolutely agree with you i mean stop selling at low prices, that is the key solution to all the price low questions in my opinion.

Everyone is selling everything to buy Bitcoin bro.

·

Bitcoin FOMO is here!

·
·

Yeah.... on its way back to $20 k .... and then $100 k

It's worth putting in low orders in case someone dumps on the buyers, I saw that the other week with crazy low prices.

·

After this dumb, I now see that a LOT of the buy orders have been pulled.

If he had sold in a small amounts, he would have gotten a way better price and not smashed the market totally!

·

Yes, that's the thing people don't understand. You get impatient and take out all the buy orders and drop the price, well now, new sellers are gonna sell at lower prices. If you just be patient and sell slow, you can get the spot price.

Looks good to me! Perfect time to rack up on SMOKE while others continue to sell! Then, when the price shoots back up, not only will you be able to sell for profits, but your overall SMOKE power will be increased significantly! :)

Plus, lower prices means more people will be looking to buy, sooner or later.

This is also good for newcomers, as they can make a pretty small investment and get a decent bit of SMOKE, allowing them to have more influence than they otherwise would.

All-in-all, I think a price drop is great. Eventually things will bounce back and we will see the days of SMOKE being well over 20 cents USD. :)