STEEM – supply/demand basic | more slow bleed to come steemit 34 mil dump ahead

Basic of supply and demand, and price of steem probably gonna head down lower via slow bleed effect in the coming weeks. I was just talking about the huge dump by steemit yesterday and following that, they started FULL powerdown and release of 10 mil SP delegation to steem.
On 4hr chart, test the low of 700 and bounce following btc movement. Despite the huge amount above, powering down will take time and as usual they are likely to do it via slow bleed. Possible down channel. Next support level around 680 near channel bottom. Distributed buy walls below 700 to

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