Good afternoon CryptoPubbers and welcome inside the joint where we prepare for a work week with our coins and beverages.
Late this morning/early this afternoon, we were slightly in the green until a quick ~$700 drop happened with BTC.....which caused similar action in alt coins. It will be interesting to see if this is just some wage slaves making some quick scalps or one final dump to shake out the bears and make me question my buy ins for a couple days. Seems to be high volume so this should be an interesting day.
Today's T&A brought to you by dozens of new cryptopubbers partially coming from https://steemit.com/@smartmarket.
Looking at the BTC 3-hour chart, we can analyse how low this local dip should go. Price is fighting to stay at the Bollinger median line which would maintain its short term bullish. We are about to cross down on the MACD though and there is plenty of room on the Stochastic support index to drop so I would wager that we are headed closer to the support line under 9k.
It seems we have been ignoring ETH in the T&A at the pub as BTC and the market in general figures itself out. Looking at the 12-hour charts, you can see the results of this indecision in the form of decreasing trade volume and the wiggles up and down on the STOCH and MACD. Short term dip may happen but I am looking to be entertained when the MACD crosses up, and we are meeting the resistance line where it crosses the Bollinger median line. We have been bearish on the 12 hour since Feb 19th and it would be nice to see a cross of the median line into bullish territory again.
Coins munching on beernuts while BTC nurses its hangover include:
- VTorrent (VTR) - Bittorrent alligned Block Chain solution - http://vtorrent.info/ https://bittrex.com/Market/Index?MarketName=BTC-VTR
- Stealth Coin (XST) - Privacy Currency with equal parts POS and TOR - https://www.stealthcoin.com/ https://bittrex.com/Market/Index?MarketName=BTC-XST
