Good Afternoon Weekend Warriors and welcome back to work and trading. We are flying high on crypto and liquid lunch as we see where Bitcoin and the rest will be headed. Pull up a drink and lets dive into the charts on the big screen at the CryptoPub.
Looking at the ticker this afternoon as wage slave trading resumes, Bitcoin is down about a point from a surge yesterday at this time but still up over 11k under big volume. Partners NEO and OMG are nicely up over 2% while Litecoin and EOS are down over 4% on the day. In the Poodle Race of entertaining alts, FUN is in the lead and just a little green, while 0x Protocol (ZRX) is in last place, down almost 5% on the day.
T&A today brought to you by @cryptopassion wondering if consolidatiopn is done. https://steemit.com/bitcoin/@cryptopassion/btc-is-the-consolidation-already-finished
Regular pub goers will recall I like to start with the 24-hour Bitcoin chart to give us a pedestrian speed view of where Bitcoin and the alts are generally. You can see this big move up was characteristically made in the Overbought/Overvalued portion of the Stochastic Relative Support Index (Bottom indicator.) 5 full days of rather exuberant bulls made for a rise of Bitcoin above the blue Bollinger deviation line where price only ventures less than 5% of the time. The good news is price has increased to a level where a quick fall will not bring us back to 3k and panicking time, while the bad news is trends above the Bollinger line and in Oversold on the STOCH will correct themselves. We just have to pick where it will fall to if we plan a re-buy. The median Bollinger line is a conservative speculation at this point and support there will maintain the bullish price action.
Bonus T&A brough to you by one of the original CryptoPubbers @donald.porter cryptoing it up in Jamaica https://steemit.com/jamaica/@donald.porter/2pm-wake-and-bake-plans-for-tomorrows-crypto-forum-hosted-by-jamaica-stock-exchange-ho9qptvc
Having bought some XLM to play with for a quick profit, I am looking at the daily chart with strong hands til I sell. Had the MACD crossed up instead of bouncing (as many jumped on the BTC rocket,) a good pump may have landed my my limit sell. You can see people are a little more conservative with XLM as they sell when price peaks over the Bollinger deviation line. There is still room on the STOCH so I am going to hold onto my lumens for now and see if the MACD finally crosses upward for the pump this time. My limit order is just left there out of laziness or maybe optimism? I will probably pull the trigger next trip able the Bollinger.
Steem: @vanessav
SBD: @vanessav
Bitcoin: 1C6hMc172hbn1q9TFkkkaeeku3DxBju1eg
Ether: 0x27A5E16545fFf9301f52915A951C80D672717A12
SmartCash: SgsDm6PunExWcQKq2hDs7ruSGeiLAsSFLK
Monero: 42h5cfr1xVpgZhcksYZnq5BdXXrA42sCZFrZfz6se6SwHh8r5cX51gnJGqzqmcLS9145aNd3NPvYvMTRep7fxnYeGSmg95p