Crypto Market Update - 5 April 2018

Hi guys!

I've been having trouble all day when uploading a video on dTube so today I'll just make a written post only. So, here are the summary of todays’ market update.

I picked 3 coins from the top 10 on coinmarketcap plus Steem:

1. BTC
2. ETH
3. LTC
4. Steem

BTC - Daily Chart

Tools used: Fib Extension and Trendlines

It seems my gut feeling was right after all that the last hammer candle wasn’t a good confirmation for a bounce play. I still would like to see a volume confirmation so my breakdown price target still stands.

Although BTC briefly touched the 0.618 fib level there (checkout my post few days ago). Or I could be wrong and this is just consolidation before the rally/bounce. If that’s the case my bounce price target also still stands, you can find it on my previous post.

What I usually do is prepare for both scenarios and look a strong signal(s)/confirmation(s).

ETH - Daily Chart

Tools used: Fib Retracement and Trendlines

For ETH my strategy still hasn’t changed, I would lookout for 78% pullback around $300. This fib retracement goes back to early 2017 as the anchor. Of course this minor pullback is due to BTC but my gut feeling tells me that ETH can go further back.

LTC - Daily Chart

Tools used: Fib Extension and Trendlines

I adjust my breakdown price target for LTC to around $90 however if this is a just a consolidation around key level support/resistance. My bounce price target still stands, you can check out my previous post for that.

Steem - Daily Chart

Tools used: Trendlines

So far Steem is testing its new found support from previous breakout around 25k satoshis. We need to see if this support will hold as this could a start of a new cycle for Steem.

If you look at the daily chart there, there was quite a bit of a price traffic going around 25k satoshis so this would be the price level I’m closely watching.

Disclaimer

You know the drill guys. This is just opinion and not a financial advice. Do your own research and decide your own trades. Cheers!