Good morning fellow wage slaves and independently wealthy and everything in between. Starting the week out the right way with a little market perspective and a liquid lunch is good for you!
More nice sideways consolidation and moderate price growth as we start the week. Monero was the weekend warrior and has settled down to union worker level performance while Ripple is making the push as the corporate folks lean their shoulders into their financial work. ETC is taking a little hit comparatively and is approaching a good entry point ideally around $26 if it gets that low.
Today's T&A brought to us by @zekepickleman who suggested I just make my charts a little smaller so the numbers don't get shrunk so much by auto resolution!
To start out the week with BTC, I am just revisiting the daily chart posted yesterday. We are still nicely in the Bullish rising wedge and at the top of the Stochastic Relative Support Index which strongly suggests correction in the near term. Remember that near term in the daily chart can mean a week or more out sometimes but likely sooner than that as we approach the point of the wedge. A bit of room to go up very short term with the space still left to the top of the bollinger deviation, so plan your exit closely if I am to be believed.
Bonus T&A brought to you by @riskdebonair whose daily thoughts expand my brain! https://steemit.com/thoughts/@riskdebonair/all-statists-are-fascists-to-the-nth-degree
A look at the Daily ETH chart seems to tell a different tale. We have been consolidating a while and building up support (increase in the Stoch) and cruising almost straight sideways in a channel while the Bollinger squeezes in. We are approaching the resistance level that started with the decline from the all time high (ATH) and have plenty of room at the top of the STOCH before overbought. If it weren't for BTC and its tendency to VETO the mooning of Alts including ETH, I would be confident in a break upwards except for the decline in trade volume which is showing wavering confidence. ETH is gonna ETH though and that includes doing what big brother commands so I am watching closely and warming up some duck-fat popcorn.
Coins taking action for positive change today include:
- PARTICL (PART) - Blockchain online privacy protocol - https://particl.io/ https://www.tradingview.com/symbols/PARTUSD/
- Cofound.it (CFI) - Like a gofund me for Block Chain startups! - https://cofound.it/ https://bittrex.com/Market/Index?MarketName=BTC-CFI
- Simple Token (OST) - Is Simple OST? Eth based coin creation - https://simpletoken.org/ https://www.binance.com/trade.html?symbol=OST_BTC
Personal Trading strategy today: keep hodling LTC, earn some FIAT for discount BTC, and scoop up a few ETC when the price is right.
(source: https://cryptosrus.com )