RE: Market Snapshot - August 19th 2018
We had the weekend retracement yesterday.
Bitcoin lost the $6500 level after reaching the $6600. A strong big bear candle left the prices in the $6300 level below the 100 MA line. We will see if the market remains in a trading range today or is able to push up again crossing the resistance.
EOS also had a strong decline as all the alts, but it managed to remain above the $5 level trading slightly higher than the downtrend channel line. Volume is quite low this morning and a new triangle is forming which may break up or down.
STEEM strong decline sent the prices below all MA lines losing the $1 level again. Now the volume is extremely low and the market has been developing a triangle between the 200 and the 100 MA line. With such a low volume, the day may just follow the trend bitcoin will develop.