CryptoPub Daily - Wrapping up the weekend in style
Good morning CryptoPubbers and welcome inside the establishment where tips in Monero today get you a little top up on your draft beer. I hope where you are it is showing signs of spring finally and I know the markets are up.
This morning looks a little like St Paddy's day with all the green as alts are celebrating. Bitcoin is up 1% from yesterday with Ethereum outpacing it (at 5%) which has been the trend for the last week and a bit. It is a Bitcoin Cash kinda day with 11% gain from yesterday with guest appearances by Monero up 12% and Iota up 10.5 as well as All-In-One up 28%! Bitcoin and Neo which were darlings a week ago just lagging this Sunday.
T&A today is brought to you by everyone who tips today as I am apparently at 53.996 and any love will likely push me over to (54)!
When I look at the 3,6,12, and 24 hour charts, they are all firmly in the Overbought/Overvalued band of the Stochastic Relative support index. Encouraging because sentiment is returning and it is the buying power/bulls that are keeping the price up where it is. The concerning part is that what goes up, must correct, and the longer it is up, the harder it comes down. That and the bearish rising wedge we discussed yesterday is making me bearish short term.....and the tips seem less so that sucks. Watch the bottom of the Bollinger line where it intersects with the lower line of the wedge for some fireworks and do not be alarmed.
Bonus T&A brought to you by @briggsy who is as optimistic as I am for the short term for STEEM https://steemit.com/steem/@briggsy/right-now-steem-backed-dollars-be-like .
For shits and giggles and perspective and where these bears get the 4k number, and bulls are calling moon, we just have to look at the dusty old weekly chart. The STOCH has bounced off the bottom and is heading up, MACD is working its way to crossing up in the next few weeks (Last time that happened it was the beginning of Oct!) and these huge earth ending panic sell dips didn't even bring the price to the lower Bollinger. So, key numbers as we are into summer will be 4k (if 66% of people abandon Crypto,) 11k for a bounce or return to Bull, and 18k (or above) for a true confirmed return to Bullishness for BTC....and crypto.
Coins making the most of the weekend include:
- All In One Token (AIO) - Kinda like a fund of other currencies purchased whose performance drives the value of AIO - https://www.aiocoins.io/Home/AIO https://www.tradingview.com/symbols/AIOETH/
- Yoyo token (YOYO) - Check out the run-on sentence on the description on this one - https://www.yoyow.org/index_en.html https://www.tradingview.com/symbols/YOYOBTC/
- Adex (ADX) - ETH-based decentralized add network - https://bittrex.com/Market/Index?MarketName=BTC-ADX https://bittrex.com/Market/Index?MarketName=BTC-ADX
Personal Trading Strategy today: Kick myself for hesitating to buy Monero yesterday for a scalp, Swing trade a bit of my BTC core for a re-buy.
Source: @overkillcoin
YAY! Thanks for the love guys! It was either @overkillcoin , @briggsy or @masterthematrix that ticked me to (54)
Love you guys and all the regulars! A round on the house!
Nice, congrats! I'd like to see your content get more traction on here, it's consistent and packed with lulz. :)
Heehee thanks! Means a lot coming from you.
The pub is only as good as its clientele and you really classy up the place!
Yoda is my spirit HODLer
I was thinking the other day that the last corrections of BTC in the past where always a big dip downwards and then it climbed up its previous upward trend like nothing happened. Maybe we are right now in the same phase where we had the dip to 6400$ and now we are going back up but probably will never touch the old lows again.
I am trying to figure this out as well. Less than a year since I went down the crypto rat-hole so I have not seen it all yet.
My latest observation is when the market is in an uptrend, there are still ups and downs but the price makes bigger moves at the top of the (stochastic) cycle, gets higher than the typical, and when it corrects, it is down the same amount to a higher low.....
Exactly what you are seeing but I have learned to never say never as well.
I just wanted to have a reason to type: OCTOPUSSY
I could use one more short period of discount crypto.
You and me both
XMR still good to mine with even spare CPU cycles after recent fork to asic resistant blockchain!
HODL coins you must!
But it is so hard to see an incoming correction and watch them wilt!
Coins mentioned in post:
This post has received a $30.77 % upvote from @siditech thanks to: @vanessav.
Here's a banana!
You got a 66.67% upvote from @luckyvotes courtesy of @vanessav!