Welcome back to the STEEM pub for the start to a wonderful work week and new month! Lets take a look at the charts to see where we may be headed this week to start the hazy days of summer.

The ticker is a sea of deep red today with bitcoin down over 9% from this point yesterday under a quarter billion USD of trade volume. The Alts on my ticker are also continuing the correction with Litecoin and Omise Go down over 10% on the day while Ripple is fairly stable only down 2.5%. In our Poodle Race where Tron, Lumens, Elf, Funfair and 0X protocol battle it out, ELF is still in the lead down only .15% while FUN and TRX linger near last, down over 6%.

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As I like to do at the beginning of the week and in times of correction, I am looking at the daily Bitcoin chart where each candle represents a day of price action. When price stays above the median line (purple) in the Bollinger Band, that shows a continuation of the Bullish pattern. To balance that positive sentiment out, we have just crossed down on the MACD which generally spells a dip of sorts and we are in the oversold portion of the STOCH relative support index where the biggest moves down happen. So, the bulls will be buying now while the more aggressive short term bears will be awaiting greater discounts. I have limits set around the 9k mark in case a big move happens as I see the 50-day MA, Lower Bollinger, and 90-day support converging there in the next couple days. Roll the dice?

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As a Ripple detractor, I often watch for opportunities for quick profit when its price goes against the markets as it occasionally does. Being down only a couple points as everything else is down considerably more has my attention so I am looking at the daily XRP chart. It experienced the Golden Cross (when the 50-day moving average crosses up over the 200-day)but hasn't pumped considerably since then so maybe it is due. The MACD crossed downward but price has not dropped that much yet and the STOCH is in oversold as it is in many of the charts today. I may pick some up at the $.38 level where the bottom Bollinger line is if it gets that low. If that is the local bottom, it would be a quick 10+% sell should it get modestly back up to the Bollinger median.

Source/News - G20 are cool with crypto - https://cointelegraph.com/news/g20-leaders-reaffirm-position-on-cryptocurrencies-in-statement

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