CryptoPub Daily Drink - Weekend Warriors edition!
Good Morning weekend warriors and welcome inside the pub to start your weekend off right. FUN is in the air (and still on the rise.)
This morning, it looks like a battlefield on my ticker but it is not as bad as that. BTC is floating down only 2% from the big puffs over the last couple days and is still close to the 8k mark. IOTA and EOS seem to be taking it a little harder as the popular alt alts that have done well recently, and privacy coins (XMR and DASH) are a bit more hungover after a wild Friday. FUN is leafing the FUN/ZRX(0X)/TRX(Tron)/ELF silly race this morning as OX is just behind and ELF is bringing up the rear.
For a short term look of what can happen over the weekend, we can take a look at the week view on the 3-hour BTC chart (candles represent 3-hour periods) Since Thursday's morning surprise, we have been consolidating in a nice Bull Flag at the top of the STOCH. We have returned to short term bull status with prices above the median Bollinger line and trade volume is up a bit from earlier in the week.
What I would hope for is a hard drop to the bottom of the STOCH but prices to hang within the bull flag and respect the old resistance as support (not go below ~$7,700.) That may make for another nice bump up to $8,300 for some popcorn time.
Hope isn't much of a trading strategy though when you can zoom out to the 12-hour BTC chart to look at things longer term. You can see on the STOCH, we had a couple false starts in the consolidation period which lead to the nice pump on Thurs. Volume has gone down from there and we have started to head back down from over-valued on the STOCH and the MACD is about to follow.
While another pump at the top of the STOCH here would be great for the price, a correction to $7,600 would maintain the Bull Flag and new local support. A break of the relatively new support down to the median Bollinger line around $7,250 would be more probable and still keep us in Bull mode if it corrects back up there. The key will be to see where the MACD cross is, if trade volume returns, and how close we are to the bottom of the STOCH to see how high we will bounce back.
Coins making the most out of weekend freedom include:
- Komodo (KMD) - Slowass website - https://komodoplatform.com/ https://www.tradingview.com/symbols/KMDETH/
- UpToken (UO) - Global Crypto ATM network that rewards in Uptoken - https://uptoken.org/ https://bittrex.com/Market/Index?MarketName=BTC-UP
- GeoCoin (GEO) - Geocaching virtual currency - http://geo.money/ https://bittrex.com/Market/Index?MarketName=BTC-GEO
Woohoo! Crypto Pub proposal ice storm day....no beer here though ... sad kitty.
on it!
Yes indeed! It would be nice for this flag to fulfill its prophecy but keeping conservative in the event of discount coins!
We are VV's WWs!
A little beer to fuel the warrior fire?
Sure! My votes are a little low for tipping so I bought you another little upvote. A few quarters in the case as this place should be packed!
Wow thanks! (extra little draft top-up for Zeke.)
You got a 6.75% upvote from @dailyupvotes courtesy of @zekepickleman!
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