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RE: Market Snapshot - August 5th 2018

in #steemit6 years ago

When everyone was expecting the markets to start recovering a new bear leg appeared.
Bitcoin has dropped to the $7000 level punching the previous strong resistance line at $6900 which acted as support.

Screen Shot 2018-08-05 at 09.26.13.png

It is now in the 64% Fibonacci retracement since the previous low when the market bounced up. We may still experience some downtrend.

Screen Shot 2018-08-05 at 09.27.08.png

EOS also lost the levels it had reached during the day and is now just above the $7 value trading below the 200 and 100 MA lines. If Bitcoin experiences a third downtrend leg it may reach the support at the triangle line again.

Screen Shot 2018-08-05 at 09.27.48.png

STEEM lost just about all the gains from the small uptrend it experienced yesterday but it is still trading above $1,15 trying to reach the 200 MA line. We will see how the end of the weekend evolves.

Screen Shot 2018-08-05 at 09.28.01.png

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