You are viewing a single comment's thread from:

RE: Market Snapshot - August 18th 2018

in #steemit6 years ago

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.

Screen Shot 2018-08-18 at 10.51.26.png

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.

Screen Shot 2018-08-18 at 10.51.44.png

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.

Screen Shot 2018-08-18 at 10.52.01.png

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.

Screen Shot 2018-08-18 at 10.50.32.png

Coin Marketplace

STEEM 0.35
TRX 0.12
JST 0.040
BTC 71288.26
ETH 3580.30
USDT 1.00
SBD 4.77