CryptoPub Daily - Correction and Divergence and Cocktails

in #cryptopub5 years ago

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Good evening CryptoPub! Not much encouragement from the charts this day but it is worth watching and enjoying our cocktail special.

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Looking at the ticker later in the day, it looks like a battlefield at first glance but volume is fairly low with Bitcoin down only a point and a half at just below $6,500. Bitcoin Cash and Ripple are correcting a little harder from their recent run and Zcash is the bigger coin of the day, up over 6%. In the Poodle Race, 0X (ZRX) is down almost 5% in last place while Lumens is hanging on with only a sliver of a loss from yesterday.

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T&A today brought to you by @badnews who is selling lottery tickets to CryptoPubbers for upvotes! https://steemit.com/jackpot/@badnews/09-11-18-eurojackpot-lottery-50-giveaway-contest
I am looking at the 12-hour chart for signs of a stop to this little correction. Price has bounced to the top and the bottom of the upward channel which is better than sideways action for scalpers. The MACD has crossed down with this drop and we are oversold in the STOCH support index as the bottom of the chart. The trend continuing would be to bounce back up from the bottom of the STOCH and channel but the Bearish Divergence (higher lows in price but lower lows on the STOCH) is keeping me cautious.

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Source/News: https://cointelegraph.com/news/crypto-markets-see-visible-drop-off-as-major-coins-are-in-the-red

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