CryptoPub Daily Beverage - Rounding out the weekend

vanessav (57)in #cryptopub • 8 years ago

Good morning CryptoPub Patrons and welcome to the daily look at the markets through beer goggles. We have a whole lot of hours left to revel before the return of the Walking Dead.....tonight on AMC, and tomorrow morning when the zombies return to their normie jobs.

BTC is inching down (towards the 8k mark if I am correct) and the market is pretty much following it. This morning, down a modest ~5% (isn't that easier to say than double digits in a panicky voice?) with most other coins around that level. The exception is ETC which is just correcting its nice growth over the week, LTC which has been fairly stable, and a couple toy coins either making a quick sprint or lagging back to the median.

Today's T&A is shout-out to another silent supporter of the CryptoPub @hr1 whose blog is definitely worth following lately for some crazy controversial stuff! https://steemit.com/@hr1

I have had conversations with a few patrons over WTH Litecoin is doing. If we look at the 3-hour chart and ignore BTC the dictator (I have left the $255 price level in for nostalgia) we can see that the price has corrected down and playing out a bearish pennant. if we use the 2/3rds guidelines, these break down 2/3rds of the time and do it 2/3rds of the way to the point. There has not bee much trade volume to fuel a considerable pump or dump. Perhaps the world is a CryptoPub and everyone loves LTC, and are just patiently waiting for it to dip one last time to some reasonable limit buy areas?

A little bonus T&A to help the overall picture here on the 24-hour chart. It is a bit messy because there is a lot going on and I have decreased the resolution in hopes you won't have to open in a new tab to see the numbers. You can see the bearish period below the median level of the bollinger band, and the bullish section which has clearly stayed above. Trade volume has decreased, we are correcting from oversold on the Stochastic RSI, and we just crossed down on the MACD. I love my LTC baby and will catch her before she lands on the bottom (Which I call right now as precisely $168.55!) and hope you will too!