Good early afternoon pubgoers and welcome to hump day. We have a 10% sale on coins and a pint of our craft brew goes for .0006 BTC no matter what the market is doing!
This morning, we were silently sipping the European Lager and watching the correction we discussed yesterday. We will get into BTC in the T&A but we are just around 10% down across the board as the market follows daddy-coin. Monero seems a little more stable and the other major coins have corrected a bit more than BTC which is interesting. Litecoin and ETC seem a little worse for wear but are about the same as they are coming off a pump that lead the markets the last few days.
Today's T&A brought to you by @cryptictruth (who picked up when I picked down on LTC yesterday)
Loves beer as much as us and will hopefully add #cryptopub to the tags on his awesome microbrew posts https://steemit.com/beer/@cryptictruth/abyss-2016-reserve
I flipped open my 6 hour BTC chart from a couple days ago and saw where the healthy dips broke a couple support line I had drawn days ago. A refreshing bull run brought us past a good local high/resistance point and overbought on the STOCH signals the return of some abstainers, and must correct itself. Now is where we draw line all over the place to try and find new local support and try and predict where the stops will be. Ahead of the Specu-Line© I see an initial drop to a local support area and the very bottom of the Bollinger Band. It should rebound somewhat but we will see exactly how far and how many panic sellers will have deja vu. If my fib levels are sound and close, and the second support line is accurate, I can see a possibility of correcting down to the ~$9,200 level.
Here are the Fib lines I have been watching but shy to post as I am still trying to master them.
Coins offering to buy a round today are:
- OmiseGo (OMG) - Ethereum block chain general currency https://omisego.network/ https://www.tradingview.com/symbols/OMGBTC/
- PesetaCoin (PCT) - Spanish POW coin - http://pesetacoin.info/index_en.html https://bittrex.com/Market/Index?MarketName=BTC-PTC
- Monero (XMR) - My favorite privacy coin and part of my core https://getmonero.org/ https://bittrex.com/Market/Index?MarketName=BTC-XMR
Personal Trading strategy for the day - Rebuy BTC for small bounce, sell play coins scooped up at bottom (LTC and ETC etc.) in profit and get to 33% crypto on exchange.
