Daily Market Update April 29, 2018

Market as a whole has been flat today and the past 24h we've been trading between 420 and 440 billion market cap total. Coins that has done remarkebly well these past two days has been EOS in particular, also worth mentioning Cardano, Waves, Cortex and Aternity.

Pantera CEO thinks the crypto market can reach 40 trillion USD in 2020, and according to a survey done, 85% think Bitcoin is ready for new ATH very soon. We are also seeing France lowering their crypto tax from 40 to 19% which is of course very bullish.

 

BTC Dominance

Down from around 37,5% to 36,7%

 

Steem And SBD

Steem touched a high of $4,64, before pulling back a little. Let's take a look at the technical chart

 

Steem Technical Chart

Banging into that upper ceiling while also hitting something that could be resistance. Trading high above 50 and 200 moving averages. I think we are in a healthy ascending trendchannel as long as support holds as we are possibly correcting down towards moving averages.

 

BTC Technical Chart

Bitcoin is in a much more narrow trendchannel, and is trading much closer to moving averages. RSI is only around 50 and we are low in the trendline. I think this indicate a move towards $11,000. where it will hit resistance, move down, form a broader trendchannel, and then try $11,000 once again. It could possibl test as low as 9000, before further moves up. The thing with Bitcoin is that beyond 11 and 12k there is really no resistance, so we could absolutely moon.

 

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