Crypto Rally Stalling
Hello Steemians! So, we had a nice little bounce for a few days and now we are beginning to stall. Let's have a look.
BTC generated a reversal bar on March 21, 2018 around 9100 and today it is a red lower bar so far. If it closes red, then BTC rally is stalled. Basically, it seems like rallies are continue to be sold. As long as that happens, we firmly remain in downtrend.
Let's have a look a STEEM daily:
Similar looking chart, but here the overhead resistance is formidable at 2.2, it was support previously, now it is resistance. Still no volume to speak off. So, we will leak slowly as BTC leaks. That's that fact at this point. 1.4 is the initial level to look now.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
Not yet downward trends broken in the market
I still see firm downtrend on BTC daily. As long as price below that red line and 50 EMA (which are both similar places; around 9500 or so; we are in a downtrend on my books. We have just put in a bottom that's all.
Exactly. i used to be 5-10-20 EMA generally and not to see a golden cross on Bitcoin. But it will hold on 9500 again, then maybe start to bullish season.
Great overview, thanks for sharing. I've smashed the up vote button for you!
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Wow that a lot! Thank for sharing!!!
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Fiat rocks on these days
sure does!
Hi, I like your analysis. I attached my post about bitcoin. I wrote it in Spanish but it is possible to be useful for you. I am a daytrader.
Sorry my bad english.
https://steemit.com/spanish/@daniel28/bitcoin-no-supera-la-media-movil-de-200