RE: Market Snapshot - August 18th 2018
Little by little the market keeps moving up.
Bitcoin finally was able to cross the $6500 resistance, it had a small retracement this morning and now that price level may be acting as a support. Volume decline while retracing and Stochastic indicator give signs of a new bull run.
EOS experienced an even more aggressive bull run with nice volume. It managed to cross all MA lines, get out of the descending channel and hit $5,6. Then a small retracement appeared and now the bulls are pushing back again with the price at $5,3 level and stochastic showing oversold. We may have a bullish Saturday.
STEEM had a similar behavior, a strong bull run sent the prices to the $1 level until a bigger correction unfolded to reach the 200 MA line which acted as a support. If that line can hold the price the market may resume the uptrend.
Although we've been immersed in a trading range on the daily charts, there is a website I check regularly which shows a nice change. It is a mathematical prediction of bitcoin price. The long-term prediction used to show even negative values a few weeks ago, but it has started to show a reverse in price in the long term. It is only a mathematical formula from past values but it is also a market long-term sentiment.