Good morning Pub-goers and welcome inside the CryptoPub. Sundays, this is the house of worship celebrating cool hoppy suds.
Some fairly sideways action today with BTC correcting a couple percentage points. Otherwise, I have not seen too many sleepy Sundays like this where everything has moved less than 3% in 24 hours. In like a lamb, out like a lion?
The T&A today is brought to you by @minnowsupport who supports us aspiring blog dolphins and has brought some new patrons to the pub! https://steemit.com/@minnowsupport http://minnowsupportproject.org/discord/
On the 3-hour chart, the bearish rising wedge we were watching yesterday did indeed break down but not too badly. The question now is will trade volume rise or continue to decrease like it has since the ~$9,400 price level. To know for sure where we are, we must look at the action at the bottom of the Stoch RSI. We will either bounce back up healthily, or the MACD will bounce back downwards and we could skid along the bottom of the STOCH for a larger drop. I would grab some popcorn around the $10,800 zone if it gets that low and see if price will continue to drop to the bottom of the Bollinger band and continue to the support level around 10,600. Most likely not but BTC is gonna BTC and there are whales in them waters.
Bonus T&A today is served with your second drink to make sure you don't go all in with your stack just yet. On the daily chart, we are overbought, in obvious slightly bullish territory on the MACD, and in a fairly nuce upwards channel that brought us out of the big long downtrend. Overbought means eventual correction and the daily chart is a little scary of the prospect of returning to 9k scares you. Stay sober, hope for the best, prepare for the worse, and have fun either way!
Coins smiling and sipping suds today include:
- Numeraire (NMR) - Ethereum-based incentivization of artificial intelligence creation - https://numer.ai/
https://bittrex.com/Market/Index?MarketName=BTC-NMR - Monero (XMR) - Favorite privacy coin making strides on BTC - https://getmonero.org/ - https://www.tradingview.com/symbols/XMRBTC/
- Blockmason Credit Protocol(BCPt) - Credit protocol blockchain - https://www.blockmason.io/ https://bittrex.com/Market/Index?MarketName=BTC-BCPT