CryptoPub Daily - Octobull?

in #cryptopub6 years ago

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Good mornin' CryptoPub! Being the first of the month, I am looking back at what was in September in Crypto, and how the first of October compares with the First of September. Pull up a pint and lets see what a difference a month has made.

Oct 1 Ticker.jpg

Comparing the ticker as it was on September 1st (green daily numbers) and how it is now on October 1st (red daily numbers), it was an interesting month. Bitcoin, on the day is less than half the trade volume on that day and is down about 10% from that mark. Ethereum is exactly the same in trade volume but down 23% in price from the beginning of Sept. Ripple, by contrast, is 8x the trade volume and 55% higher in price than Sept 1st. EOS was a big mover in Sept but is about half the daily trade volume and the price is about 17% lower than the beginning of Sept.

Oct 1 BTC T&A.jpg

T&A today brought to you by @overkillcoin and the birth of Forkenstein! https://steemit.com/art/@overkillcoin/art-forkenstein
Looking at the weekly chart, we can see the slow and plodding trends for more of a long-term view of the market. Septembear has been relatively uneventful in terms of big price movements and consolidation of averages and support. Buy/sell support has been stuck in the middle of the STOCH since the beginning of August and has really leveled out in the last 4 weeks. The MACD short-term line has stayed above the long term line nicely (a cross down would be bad!) but overall, it is still bearish in the last while at -400. We are trending up slightly and the consolidation is pulling the Bollinger Bands in a little tighter so more sideways action will eventually mean for a big break one way or the other eventually,though not likely soon.

Oct 1 BTC T&A2.jpg

Bonus T&A brought to you by @broncnutz https://steemit.com/sports/@broncnutz/mnf-live-streem-broncos-vs-chiefs who is always amped up when his Broncos play the Chiefs.
If we zoom in a little closer for an October range view of things to come, we can see September price action ramming itself into a wedge of lower highs and higher lows. The last couple weeks have resulted in the MACD blue line staying above the red and avoiding a cross downward but approaching that cross again. Decreasing volume and corrections in the middle of the STOCH have left me looking for support and resistance lines and my chart looking like a sky fulla chemtrails. I personally think we will break down out of this triangle and revisit the $6200 level......but I hope it will be slowly and bounce hard. I just dunno for sure but hedging to make it a win either way (or less of a loss.)

Where do you think Bitcoin will be on Halloween night? My guess is a moderate $6,800.


News/Source: https://www.newsbtc.com/2018/10/01/tron-trx-network-launches-its-first-crypto-game/

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