Hope you all had a good week! I've decided to run through the markets and do a quick glance at the top 5 coins with highest market cap + Steem.
The past week Bitcoin saw an amazing ride. We should Bitcoin starting to stall, at least a bit and if not retrace, at around 4287 - 4300 area if my Fib extension on the weekly chart is drawn correctly.
Ethereum continued its recovery during the past week, it stalled at around 61.8% retracement from the ATH. Needs to break above and hold downtrend line (blue) in order to continue higher.
Ripple chart is looking bearish, as it has a bearish pennant flag. Better hold last week's low. 0.158... Needless to say, it has been unable to break the downtrend line.
Bitcoin Cash has been stabilizing, going sideways with VPOC (Volume Point of Control or most accepted price) @ 325.
One of the biggest story last week was NEO. There is a potential Head & Shoulder pattern developing, and an uptrend channel (not drawn). If looking to add to your portfolio, wait until retraces to S1. I prefer waiting until S2.
With the rise of Bitcoin, Steem is seeing a sharp decline. There is a strong support line at around 22K Satoshi, which is best area to buy for a long term hold.
Market Cap (by Circulating Supply)
24 Hour Volume Rankings (Exchange)
If you have any chart you have a particular interest in, let me know. Feel free to comment and let me know your thoughts on the market. Have a great Monday.