Happy Memorial Day CryptoPubbers and welcome inside the pub on a glorious day off! Pull up a chair and some popcorn as we prepare for the fireworks display when traders get back to work tomorrow.
Bitfinex has changed the ticker so you have to say some magic word in order to have it list the coins you want in the order you want so I guess I will have to show you coins in order of trade volume rather than the way I like it. Bitcoins is hanging on to that $7,250 level and is fairly flat like EOS. The rest of the Alts I am watching are not doing so well as ETH, Tron, Bitcoin Cash and ZEC are all down over 5% from where they were yesterday at this time. Lumens is barely leading the clown race at 4% down and TRON is at the back of the close pack down 7%.
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When we look at BTC hanging on to that $7,250 level I expect that there will be action before the end of tomorrow as lines converge. The sell volume seems to be bigger than the buy volume the last while and a little buying frenzy could result in a MACD cross upward for the first time in 10 days. We are heavily oversold on the STOCH but having a tough time lifting out of that band. The longer it stays down, the harder it corrects so we will have to eat some popcorn over the next day or so and see where this ride takes us.
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May as well take a peek at the TRON 12-hour chart as we launch the mainnet on the 31st in case you are looking for reasons to get on board https://globalcoinreport.com/4-reasons-why-investing-in-tron-trx-golden-chance-before-main-net-launch/. We saw a head and shoulders bearish pattern set up the overnight drop and seem top be building up support around the 0.0626 level. Finally entering the Oversold phase (so close to mainnet?!) might be a launching point for a last minute surge as traders fomo in. I am going to put in a limit order for fun at the support level and see if it does pump back up with .071 as a conservative target, and .08 as a bullish target.
Coins celebrating ins style today include:
- Golem (GNT) - Decentralized supercomputing block chain - https://golem.network/ https://www.tradingview.com/symbols/GNTETH/
- Cybermiles (CMT) - Block chain for E-commerce smart contracts - https://www.cybermiles.io/ https://www.tradingview.com/symbols/CMTUSD/
- Nexus (NXS) - Quantum resistance 3d blockchain - https://nexusearth.com/ https://bittrex.com/Market/Index?MarketName=BTC-NXS
Personal Trading Strategy today: Loose change on TRX, HODL and watch and see. Time away from charts!
Happy Memorial Day and please keep supporting the Tuesday Airdrop initiative through a donation to one of the following addresses. We also accept alt coin donations that can be used in the Airdrop!
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Ether: 0x27A5E16545fFf9301f52915A951C80D672717A12
SmartCash: SgsDm6PunExWcQKq2hDs7ruSGeiLAsSFLK
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