Good afternoon CryptoPub Weekend Warriors! Join us for a drink as we knock off early this Friday,and take a look at the week that was in preparation for the weekend.
The ticker is a sea of red this morning with Bitcoin down just over 4% to $8400 under good trade volume. Alts are taking it a little worse because of the correction and lower market cap as Eth, Ripple, Neo and OMG are all down over 9%. In the Poodle race of cute alts, Tron and 0x Protocol are battling it out for last place down over 10% while aELF is modestly in the lead, down only 4% to $.22USD.
T&A today is brought to you by the OG from the West/West cleaning house and mining STEEM! https://steemit.com/dtube/@broncnutz/wdlli65s
Looking at the daily chart leaves me wondering.....I am medium term a little bearish but the bull signs are still there for the short term. Price dropping caused/resulted in a downward cross on the MACD and it looks like the half month spent overbought will be mirrored with that long oversold on the Stoch RSI. The resistance line broken strongly 5 days ago has become support as it often does to halt the drop for the short term. The trend is down however on the STOCH which has room to complete its drop. The optimist Bull will count on the Support line to hold at 8k or above. I figure a correction to convert the old resistance line to support is a safer bet around $7,200. The pessimistic (opportunist?) might pick a correction to the $5700 level but that looks unrealistic given how much below the bottom Bollinger line that would be.
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The Bear clawing at my soul comes from the vastly overbought/overvalued signs on the weekly. I am beginning to sound like a broken record but I am inching towards FIAT on exchanges at moments of big strength. This little dip has brought us of the 100 line of the Stoch but not down into the reasonable level below 80. The alarmist in me is looking at the thick red (200day moving average) and the Green line (50-day moving average) and observing that a matched period of oversold on the Stoch could result in them crossing in what would be termed a death cross. Not sure the crypto pub could survive another crypto winter and I refuse to accept that! Bottoms up!
Steem: 
SBD:
Bitcoin: 1C6hMc172hbn1q9TFkkkaeeku3DxBju1eg
Ether: 0x27A5E16545fFf9301f52915A951C80D672717A12
SmartCash: SgsDm6PunExWcQKq2hDs7ruSGeiLAsSFLK
Monero: 42h5cfr1xVpgZhcksYZnq5BdXXrA42sCZFrZfz6se6SwHh8r5cX51gnJGqzqmcLS9145aNd3NPvYvMTRep7fxnYeGSmg95p
