CryptoPub Daily - Everyone deserves a break!
Good afternoon CryptoPub! I hope you are fat and happy and surrounded by family. We have Shirley Temples for the young ones if you want to bring them by while we check on the charts.
Volume is continuing the holiday lull as Bitcoin is down less than a point to $3,864 to start the afternoon. Ethereum is still riding on top of trade volume but is down almost 3 points today as it cools off. ETC is still in the green as is 0X which is up over 4% today leading the Poodle Race as FUN is down 3 and a 3rd in last place.
T&A today is brought to you by @slobberchops failing his way to adventure success https://steemit.com/urbex/@slobberchops/urban-exploration-a-trilogy-of-failures-ii
My daily chart is a little bit of a laser battle as I search for support and resistance points to decipher which way we will go towards the end of the year. There are latent bullish signs and some short term support just over the $3,800 level. I am also looking warily at the MACD which is approaching a cross downward and the STOCH which is slowly correcting down with plenty of room to drop. I am tempted to set a hedge sell close to all the resistance and Bollinger upper line in case there is a little pump. Otherwise, the low volume may just prop the price right here for a while. Have a drink and lets watch!
Coin of the Day
- ContentBox(BOX) - Shared payment blockchain solution for content creators - https://contentbox.one/ https://www.tradingview.com/symbols/BOXUSD/
Source/News: Watching $3,190 closely! https://www.ccn.com/trader-crypto-investors-need-to-gtfo-if-bitcoin-price-falls-below-this-level/
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Bitcoin is on a 1D Inverse Head and Shoulders pattern, with the short term trend currently neutral within a rather wide neckline ( RSI = 46.660, ADX = 38.650, CCI = 25.6070, Highs/Lows = 0.0000). Typically this is a medium term reversal pattern and since the long term trend has been bearish , the price should technically test at least the neckline's Resistance at 4,384 with the 0.382 1D Fibonacci retracement level at 4,463.10 still a solid long TP. The support zone is at 3,548.50 - 3,652.10 and below this level the price resumes the bearish trend towards 3,200 and 2,800 in extension. If BTC crosses the 0.500 Fibonacci level (4,850) then it will attract more retail buyers and we can start considering a more sustainable bullish reversal.
what do u think about it?
follow me guys for more crypto ideas and signals.
happy trading
Fantastic data and analysis! Welcome to the pub!
I have added you to my feed and look forward to learning more!