Good morning CryptoPubbers! This is the gathering of folks new to Crypto (as we are happy to pass on what we know) and veterans (who discuss the trends so that we can all learn.) Today, we are talking correction and price recovery. Feel free to ask or educate in comments.

Bitcoin has found some legs despite relatively low trade volume and has crested the $6,500 level once again, up 4% from this point yesterday. The anomaly with ETH continues as its volume is still above that of BTC and price has rebounded almost 19% in 24 hours to get back over $200 again. Monero, EOS, SASH, and ZEC are also over 10% up in 24 hours as alts are outperforming BTC at the moment. The Clown Race is afoot again with Tron regaining the lead at +16% with FUN in last place only up 8% and Lumens, 0X and ELF in between.

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The 12-hour Bitcoin chart is definitively continuing the correction so I will look at where we are on the daily chart (each candle is 24 hours of price action) for a medium term view of where we are and where we are going. The big stories are that we are pumping without a lot of volume, and the MACD is headed towards an upward cross (while still at the bottom of the STOCH) which typically means pump. If you look at the last upwards cross, it was pretty much at this price level, used up much more of its buying power on the STOCH, and topped out at our last high of $7,400. We could conservatively be headed to the middle Bollinger Band around $6,800 if we can crack the $6,550 local resistance level. It will take a rather overdue spike in buy pressure/volume if we are to head up to the 9 or 6-month resistance lines over 7k though so I will be watching closely today.

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We have to compare the ETH daily chart because of the dominance in trade volume, and a comparison to BTC at this interval. A bit of the same story as BTC but the trade volume is increasing as bulls have been triggered with this bear trap below the 5-month support line and a bullish hammer has formed. The MACD looks as if it will cross up for a REAL pump if this buy volume continues and there is plenty of room for growth on the STOCH as well. The conservative part of me thinks the Bollinger median line is well within reach (around $250) and there should be a little correction at least at the old support line of $270 but this long in bearish trend can correct back to bullish by a charge to the upper Bollinger line (and 4-month resistance line) of about $340 (a 100% jump from the low of $170.)

Coins out-bulling the bulls today include:

• TokenCard (TKN) - MAnage your digital assets and pay with an app - https://tokencard.io/ https://www.tradingview.com/symbols/TKNUSD/
• Time New Bank (TNB) - Import/export currency with time stability - https://tnb.fund/ https://www.tradingview.com/symbols/TNBBTC/
• Sphere (SPHR) - Another decentralized Social Media platform with security and transparency as a focus.
  https://sphere.social/ https://bittrex.com/Market/Index?MarketName=BTC-SPHR

Personal Trading Strategy today: FINALLY convert a little ETH to BTC, admit that I hedged a little into BTC with FIAT yesterday, no fomo

Source: heehee "dead cat bounce" https://www.ccn.com/dead-cat-bounce-ethereum-surges-9-amidst-crypto-market-recovery/

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