Hi guys!
Here are todays' Crypto Market Update.
BTC - 4 Hour Chart
Tools used: Ichimoku Cloud and Stoch RSI
This is the chart I posted yesterday. And as I mentioned if BTC doesn't supported with enough volume breakout is less likely to happen. If this kind of volume continues for the next few days I think BTC will be held under $7,000 for a while.
However, remember that there is a hammer candle on the weekly chart. So be aware that a big move might come soon.
ETH - 4 Hour Chart
Tools used: Ichimoku Cloud, Fib Retracement and Stoch RSI
Looking at the volume there it seems like ETH is losing momentum while testing this current resistance. I mentioned probable pullback price area on the chart there using simple fib retracement. Notice that the fib retracement is somewhat align with the ichimoku cloud.
LTC - Daily Chart
Tools used: Fib Retracement, Stoch RSI and Trendlines
I mentioned on my previous post about a possibility of LTC consolidating around this key level.
If not supported by volume LTC is likely to consolidate around this price which is key level support (previous support and 200 SMMA support).
And as you can see on todays' chart LTC is still holding above/around this key level (at least the support is holding so far). As long as this key level and the major support trendline bellow it holds LTC bull trend is still intact.
Steem - Daily Chat
Tools used: Ichimoku Cloud, Stoch RSI and Trendlines
This is my analysis yesterday which still stands for todays' chart since Steem is just consolidating so far.
You will see several confirmations of a pullback from this daily chart:
- Volume is decreasing
- Stoch RSI is oversold
- Ichimoku cloud indicates there is a lot of resistance around 25K satoshis
- Several rejections by the ichimoku cloud on daily chart
I think if Steem have another pullback it will be at least to the 20K satoshis price level since this is previous support before the breakout from the descending triangle.
Disclaimer
You know the drill guys. This is just opinion and not a financial advice. Do your own research and decide your own trades. Cheers!