Good Monday Morning CryptoPubbers and welcome inside the pub as we prep for a week of correction and FIAT gaining to buy the dip! Speaking of which, we should have the chef feature some vegan hummus dip with nice toasted pitas to snack on!

I hope everyone had a nice weekend because the correction begins on schedule with a down Monday morning. BTC is down a modest 5% from good ups over the last few days and hopefully will keep it modest like this in a natural correction. ETH is down a little more to right around $500 (imagine knowing when it was $1400, that you could sell one and buy almost 3 three months later?) Privacy coins are down about 7% (and may be among the first to pop in a market consolidation) and Bitcoin Gold is taking its little 15 minutes in the sun. ELF is lagging least and leading the ZRX/TRX/FUN/ELF race only down ~2%.

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If we look at the 12-hour BTC chart for a status and projection for the next few days, you can see we broke down out of the upward channel started last Thursday. We have been overvalued since about Friday and due for a correction but spending that much time at the top of a slow STOCH is encouraging. If we were to continue this correction down to $7500 (where the old resistances/new support and median Bollinger line intersect) and the STOCH is near the bottom again, a bounce there should be GOOD one as we are still Bullish (above median line) and drink specials will begin! Keep an eye on the STOCH and the power of the incoming MACD downward cross.

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Looking at the same 12-hour chart for ETH, there is a similar picture. Correcting from overvalued, incoming MACD cross, except there has been more trade volume in this increase which should bode well for the next one. A correction to $460 and bounce there would mean we are staying in bullish territory (above the median Bollinger line) and could be set to blow away the Feb resistance line if the markets are back and we have completed the x-a leg of a growth cycle.

Glossary of Terms - STOCH:

I use STOCH as the short form for Stochastic (random and unpredictable) Relative Support Index (RSI.) In layman's terms, you can look at this indicator to see whether we are at the bottom headed up in price or vice versa. The price dictates the movement of the STOCH (and not the other way around) but when traders wake up Monday morning and see a bit of red, they can check the STOCH, see that we are correcting down, and sell to swing trade in hopes of picking the coins up cheaper at the bottom/oversold of the STOCH.

Coins starting the week out right which we may consider for free airdrops include:

• Cardano (ADA) - R&D centric smart contract platform - https://www.cardano.org/en/home/ https://www.tradingview.com/symbols/ADAETH/
• Energy Coin (ENRG) - POS coin designed for sustainable environmental solutions - https://energycoin.eu/ https://bittrex.com/Market/Index?MarketName=BTC-ENRG
• IExec (RLC) - Block chain based cloud computing platform - https://iex.ec/ https://bittrex.com/Market/Index?MarketName=BTC-RLC

Personal Trading Strategy today - Strong hands on 75% FIAT on exchanges (waiting for bottom of STOCH) and kep an eye on select alts (TRX, XLM, AION, EOS, Waves) for movement during the correction.

Source: newsbtc.com

Source: Sludgefeed.com