Good morning CryptoPubbers and welcome to the end of the work week we are prepping to dance into the weekend in relatively good shape.
A day of relative sideways action and decreased volume has Bitcoin sitting just under $6500 which is up just over a point and a half from this time yesterday. ETC is hungover a touch as you will recall yesterday it was partying a little harder than the other alts and the only green coin on my ticker. Ripple, NEO and Tron seem to be doing a little better than the norm and ETH seems to be consistently ETHing along at the same rate as BTC. The Clown race is being dominated by a +20% ELF, Tron in the middle of the pack up 10, and Lumens in the rear with a gain of only 2.5%.
T&A this morning brought to you by who hopefully managed to fall asleep and will join us later on for a party. https://steemit.com/work/@slobberchops/unwarranted-insomnia-3afed33c47538est
Looking at the daily Bitcoin chart where each candle represents 24 hours of price action, we can see the downward channel has somewhat corrected itself into a consolidation channel and is looking to build up support.There is plenty of room to grow on the daily STOCH and we are about to cross upwards which could result in the typical pump but there is going to have to be much more volume to fuel a break of the $6,650 mark so watch that level closely.
Bonus T&A brought to you by as we collect donation so that he can paint us a CryptoPub Fine art piece for the pub wall https://steemit.com/crowdfunding/@jameszenartist/crowdfunding-experiment-for-artist-s-materials-jameszenartist-day-3#@vanessav/re-jameszenartist-crowdfunding-experiment-for-artist-s-materials-jameszenartist-day-3-20180816t175656107z
A little closer look at the 12-hour BTC chart tells a little different tale and reminds us swing traders to be careful. The consolidation channel is a little more pronounced with more candles and we can see the MACD moving average trending in the right direction. The longer we rattle up and down in this channel, the tighter the bollinger lines will squeeze in and the bigger the pop in one direction or another. The bargain hunters will be hoping for a correction from STOCH overbought down past the support line and beyond. The HODLing optimists will do just that and hope we bust through the top of the channel or correct no lower than 6k.
Coins charging towards the dance floor this morning include:
- **CarTaxi Token (CTX) - Asian Uber coin? - https://www.tradingview.com/symbols/CTXETH/ https://cartaxi.io/
- FunFair (FUN) - Clown race gaming coin headed for the lead? - https://www.tradingview.com/symbols/FUNETH/, https://funfair.io/
- MainFrame (MFT) - Aiming to be an unstoppable private network - https://mainframe.com/ https://bittrex.com/Market/Index?MarketName=BTC-MFT
Personal Trading Strategy today: Sit tight on BTC and hold strong hands on exchange fiat, Watch OMG and SIA for good exits to BTC, start dancing
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