Crypto basket update: Lower pink line important now.

in #bitcoin8 years ago

Bitcoin, Ethereum, Ripple, and Litecoin to me have already signaled a break out will occur. The timing is the question. How high will the retrace bounce be before dropping? I don't know. The quarter, month, week have closed lower on the basket. It has had a break out on the day for 2018. The death cross on the day is set.

Atm the light blue line across the basket is the longer term on for month and quarter closes. Below it is a light pink line. The light pink line is the next one needed a day to close below, for further drop. Those lines will act supportive until. Pa may dip below, don't trust a drop that dont close below. Inability to close below is more likely to bounce until ready. Even with a day close below the light blue line. It's no guarantee pa wont test the light pink line again weeks later, then drop again.

Most cryptos including Steem should follow.
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If long Bitcoin, you don't want the day to close below the pink line at 6710

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