Hello Steemians! Crypto hit a wall of resistance recently, and correcting. But before we look at the daily charts, like always, let us first look at the Bitcoin dominance chart for a change.
It is interesting to note that BTC dominance made a low and now rising. It is always interesting to observe during month of Feb, BTC dropped but the dominance rallied, and during March when BTC and every other altcoin rallied, the dominance faded. So it seems like during major rallies now, BTC dominance takes a hit. During downturns money moves into BTC, even if BTC price drops against fiat. This is a very easy pattern to trade actually.
OK now the BTC daily:
So low volume weekend, so the candle signal probably doesn't matter much. With that said BTC is printing a reversal bar at the moment and downward momentum appear to be slowing down. Rest of it still the same. We have 7800 below and 10K above. I think we will trade within this range for a little bit.
Steem:
Steem found buyers in the 2.4-2.5 range for low. Price is holding. There is a meaningful support at 2.4 level. I expect it to hold at least for a little bit. Stochastic is oversold, so that might interest some buyers. If we break that level, unfortunately, we will go towards 1.4 or so. Let's wait and watch. I expect quite a bit of volatility next week with couple of blockchain conferences on the cards.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
Charts are created in Tradingview.com, and Coinmarketcap.com which are free services