Market Wrap: Bitcoin remains bid despite H&S, Ether break in the works and finally some good news for STEEM bulls
Hey everyone, here's the latest movements in ...
Crypto Markets
BTCUSD has been very heavy of late, but continues to find bids whenever support is tested. We have a head and shoulders pattern on the 4 hour, which isn't a good sign, but the neckline is ascending and this could well be consolidation rather than topping. Head and Shoulders patterns are very reliable on the daily, but less reliable on lower time frames. I can't rule out a false break below the ascending neckline, as there is key support below there at the horizontal (3800). Would like to see price back above 4200, opening up the path to the record high at 4450:
ETHUSD has just breached 320 and is pulling back to test the level now. Could be a really nice trade here as per last update, but I am insanely deep in BTC longs so won't be able to play it. If 275 holds we are heading back to the record highs above 400:
Finally some positive price action on STEEMBTC. Massive up day on Sunday after a Bullish Engulfing saturday. Currently down substantially, but the bottom at 24 seems to be in. Need a break above yesterday's highs to confirm the reversal and looks like a solid buy on this pullback XD
STEEM is currently fetching $1.81 AUD, up 18% over the past 24 hours, though down a little from above $2 AUD earlier this evening! We are also up against the US Dollar, fetching $1.39 from a 24 hour low of $1.17, but down from a 24 hour high of $1.77! Those high readings for both currencies are at least one month records - I don't have historical data for the fiat readings - thinking of coding up a little indicator though. Either way, things are starting to look rosy for the first time in a long while!
Steem Dollars are trading at a slight premium, $1.02, down from a 24 hour high of $1.10. We just need Bitcoin to rally now - it's been a while since I've done a post which says everything is green - (crypto) risk-on.
That's me for the day folks, if you missed yesterday's piece on EOS, be sure to check it out ... can't get over how cheap it is atm ... massive opportunity for those who can see above the FUD.
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where BTC is going to stable?
Ethereum price is gaining traction against the US Dollar and Bitcoin, but ETH/USD has to trade above $310 to move back in the bullish zone.
Good Info :)
Steem is long overdue for a bull run
Great info
I will be expecting the confirmation of STEEM bullish trend today
Thanks for the update @bulleth you are doing a great job ,keep it up .
The analysis is very Detailed
Thanks For The Analysis It's Very Detailed And Very Helpful :)
Steem is only going to get better over time.
In the beginning, only the guys at the top who created it had the bulk of all the Steem in circulation, but as time goes on, that ratio will shift, and the economy will grow larger and more healthier.
And since it has to be mined, keeping it in check should be fairly easy.
The streets will flow with the blood of the non-believers...
Nice chart analytics!
It's crazy how low Steem is for the moment. Even more than EOS. But ok I'm also not having a lot in contrary to EOS. Cannot even explain why :) Must be a common irrationality in the market...