Market Wrap: Bitcoin roars to new record highs and Ether testing 320 as Steem remains under pressure

in #cryptocurrency7 years ago

Hey everyone, hope you are all enjoying your weekend and making lots of $$$ on Bitcoin!

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BTCUSD has continued on to new record highs above 3700, invalidating Thursday's Bearish Engulfing candle. Really glad I ignored that one XD. Pair has just taken out yesterday's high of 3695 and looks set to continue higher. Short term support in the 3490-3590 zone, with further support below there 3150-3250:



ETHUSD is also pushing higher, currently testing resistance at 320. A break higher would target 360, followed by the record highs above 400. A reversal below 280 would invalidate.



STEEMBTC continued to fall yesterday and appears to be treading water above key support. Once again though, this is on the back of Bitcoin strength and Bittrex outages. Pair is currently up on the day, hopefully Bittrex sorts their shit out soon and STEEM finds a bid. A break below 30 would target 22 and need to clear 42 to take pressure off the downside:

Currently fetching $1.73 AUD, up from $1.56 yesterday. Also up against the US Dollar, fetching $1.33 from a 24 hour high of $1.17. Steem Dollars continue to trade at slight a discount, you can currently pick them up for 98cents on the dollar.



As usual, 20% of the rewards from this post will be split with @centerlink for the communal benefit of #TeamAustralia

Team Aus footer by the amazing @bearone

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I'm surprised that Steem keeps falling.. Perfect time to buy?

Looks like it ;)

But others coins are not moving fast as Bitcoin is going to sky.

True, this time around the rally is all about Bitcoin.

Wow nice post you've got
Resteemed👍

Forget to resteem?

@bulleth i love teamaustralia. Good to see your analysis. Lets hope steem zooms to $5 in near term. Ethereum and Bitcoin are zooming

Would love to see Steem at $5 - that would be awesome!

PS #TeamAustralia rocks!

Last I noticed I thought Steem was working on Bittrex but still under maintenance on Poloniex. Either way the overall market average seems to have turned the corner in the last little while, CoinMarketCap is showing +10% after Steem's been in the red the past couple days.
I can't imagine the value can't increase when we have cool stuff happening regularly like dtube.video magically dropping out of nowhere today! It's very promising so far.

It's on and off at both - give us a month without an outage and we'll see a decent rally!

That's interesting about the market cap, if we can rally from here while Bitcoin is rallying, not a care in the world.

Just had a quick look at DTube - will be interesting to see how it plays out - right now most seem to be pinched youtube vids :|

sir you are great post thanks

Thanks naveed :)

Upvoted & RESTEEMED! :)

Thanks! :)

This is just the begining for btc $5000 is very close

I'll drink to that :)

Thanks for the update and analysis @bulleth.👌

Great to see cryptos moving higher too!🤗

Cheers croat!

Soooo close to cracking AUD $5000!!!

Whoa I just checked and 5200 at coinspot!

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STEEM 0.22
TRX 0.20
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BTC 98765.99
ETH 3313.55
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