CryptoPub Weekly - Almost popcorn time?
Good afternoon Cryptopub and welcome to Monday! I hope spring is settling in nicely in your area and wondering if the groundhog will signal crypto spring or another couple months of winter. Off to the charts to check.
Bitcoin is up almost 1% on the day as trading returns under low volume and price is almost $4,200 USD. The story of the day seems to be the privacy coins Monero (XMR,) Dash, and Zcash (ZEC) all up 6% or more while Eth, Eos and Litecoin are down a bit. In the Poodle Race of entertaining alts, we are mostly green with 0x Protocol (ZRX) in the lead up almost 6% and FunFair (FUN) trailing the pack down over 2% on the day to half a cent.
T&A today is brought to you by the benevolent @slobberchops who is checking out the bots and planning his post promotion https://steemit.com/steem/@slobberchops/another-ocdb-review-and-why-i-have-chosen-to-use-it
I am swapping some alts with Bitcoin during this period of consolidation but looking to the 1-day Bitcoin charts for the signs on where we are in general. This support and rally has been nice, the last dip to oversold was moderate, and we have kept safely off 0 on the Stochastic Relative Support index. We are in overbought/overvalued territory with room to grow to 100 but banging off the 4-month resistance line after jumping the year long resistance line. With room to drop on the STOCH, I am setting some sells to USD in case there is a last ditch rally and starting to eye re-entry points for short term swaps. Should the month old resistance become support and price return modestly to the median bollinger line, we may have the gas to jump over the 4-month resistance line which is relatively strong. If we continue a correction, I will hedge in a little at the 3-month support line depending upon how we look on the STOCH.
Bonus T&A today is brought to you by @adetorrent who will be dearly missed on this blockchain https://steemit.com/dtube/@adetorrent/qxo7w09z
In this period of indecision, I flip back to the weekly Bitcoin chart for a longer term view on where we are. I am a little scared at how moderate the price is while we are railed right on the 100% line of the Stoch on the weekly chart. The last Bollinger Squeeze was less pronounced than this one is shaping up to be and it meant for a drop of approximately 3k or ~33%. The Bollinger deviation lines are squeezing in even tighter which should make for a large breakout one way or the other. As this week and next week unfolds, I will be fixing to make some popcorn so we can see the fireworks and prepare our strategies. Big boom? Big bust? Should get interesting in here!
Source/News: Nick Chong agrees it is popcorn time https://www.newsbtc.com/2019/04/01/perfect-storm-brewing-for-bitcoin-macro-factors/
When things heat up, we will return to the airdrop initiative for #cryptoPub followers. In the meantime, you can support the CryptoPub Airdrop Initiative through a donation to one of the following addresses. We also accept alt coin donations that will be given away in the Airdrop!
Steem: @vanessav
SBD: @vanessav
Bitcoin: 1C6hMc172hbn1q9TFkkkaeeku3DxBju1eg
Ether: 0x27A5E16545fFf9301f52915A951C80D672717A12
SmartCash: SgsDm6PunExWcQKq2hDs7ruSGeiLAsSFLK
Monero: 42h5cfr1xVpgZhcksYZnq5BdXXrA42sCZFrZfz6se6SwHh8r5cX51gnJGqzqmcLS9145aNd3NPvYvMTRep7fxnYeGSmg95p
CryptoPub Discord: https://discord.gg/xc77Cyk
Haha I saw the ade joke earlier and it got me.
I kinda hope it is a break down but I know that a nice break upward would fill the pub again.
So great to have a plan in either eventuality.
Posted using Partiko iOS
Oops, did you upset them sometime in the past?