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RE: Market Snapshot - August 1st 2018

in #steemit6 years ago

Finally, the correction appeared. The Korean news probably helped but after the previous days' uptrend rally a retracement was a clear possibility.
Bitcoin lost more than $500, hit the $7500 where the longterm downtrend line and a previous resistance meet and could have bounced there this morning as seen in the 4hr chart. It is trading just below the 100 MA line with still nice volume and stochastic showing strong oversold. We will have to see if just this strong correction marks the begin of the uptrend resume.

Screen Shot 2018-08-01 at 08.58.37.png

EOS correction let the price enter the big descending triangle and then the price reacted bouncing after losing around one dollar as the price is trading at $7,2 right now. A strong oversold signal on stochastic also.

Screen Shot 2018-08-01 at 08.58.58.png

STEEM had also the strong correction due to correlation with bitcoin, it stopped on the previous lows at $1,2 levels. Volume still important so we might still see nice movements today.

Screen Shot 2018-08-01 at 08.59.21.png

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