Crypto Market Update - 17 April 2018 [Correction Not Over]
Here are todays' quick Crypto Market Update.
BTC - 12 Hour Chart
Tools used: Ichimoku Cloud, Stoch RSI, RSI and Trendlines
So far BTC is giving out mixed signals. Those 2 hammer candles I mention on the chart usually signals a big move and depending on where the wick is the next move will be on the opposite direction (not always though). So the previous hammer candle is signalling a possibility of a big move to the upside.
However, stoch RSI and RSI indicating BTC is losing momentum here so we might see BTC testing key level support around $7,800. This are the mixed signal I'm talking about here.
Regardless of BTC movement only 2 price levels I would watch:
- Key level support around $7,800 (successful rebound from this key support will confirm higher lows on BTC chart)
- Upper resistance on the ichimoku cloud around $8,150. If BTC successfully breakout from this cloud we might see another rally to the upside.
ETH - Daily Chart
Tools used: Fib Retracement, SMMA and Trendlines
As long as ETH does not go bellow its previous low which about $350. ETH is still giving out bullish signal. And right now ETH is holding above 200 day SMMA support. If this support fails to hold ETH price we might see ETH retest it previous major resistance.
However, looking BTC chart at a glance this is just minor correction so far. At least there is no signal to the downside so far.
LTC - 12 Hour Chart
Tools used: Ichimoku Cloud, RSI and Trendlines
LTC is one the few crypto that is performing rather well compared to the others that are having minor correction. As you can see on the chart there LTC bounced from its previous resistance and currently trying to breakout from major resistance into ichimoku cloud.
Steem - Daily Chart
Tools used: Ichimoku Cloud, RSI and Trendlines
Steem is holding well above this 33k satoshis key level support for now. Since Steem is still inside ichimoku cloud we should wait and see if Steem can successfully breakout from this cloud.
If Steem consolidates around this 33k satoshis it would take about 2 weeks to breakout from this cloud. However since BTC's correction doesn't seem to be over yet, we might see some more volatility on altcoins.
Disclaimer
You know the drill guys. This is just opinion and not a financial advice. Do your own research and decide your own trades. Cheers!
Thanks for the information 😄
Thank you! Glad to help @evyrojas!
Hi devytan,
Thanks for upvoting my last post. Upvoting this.
I am intersted in BTC and Steem so, I was looking at their charts you had anaylized.
I like your simple charting.
By this Friday, I am projecting to see BTC around $7.8 K to the next Support.
Thank you @hanamana!
So BTC will retest it's previous support around that $7,800. Actually I want to see BTC bounce from that key level and make a higher lows. So that would be more confirmation on the bull trend.
The thing about Steem is that it's still dictated by BTC and unless BTC is consolidating Steem won't grow. But we'll just wait and see how this plays out.
Agree that Steem is usually dictated by BTC so far as I observe their price movements.
I checked Steem/USD pairing on tradingview at a glance a couple of weeks ago it seems like it's still looking good. Although its calculated by tradingview at least it can provide some kind of idea on real price action.
Great info on steem. i have gone through your blog You made an amazing content my dear friend. We should connect and support each other by following, upvoting and resteeming each others post. I already resteemed your post and following you, please think about that.Thanks and greetings from @ayahlistic
Thank you for resteeming my post @ayahlistic! I just followed your blog.
Thanks for sharing.
You are welcome @majkee!
thx for another valuable update mate.
Thank you @crypto.piotr! As always daily TA is the purpose of this blog.
as always you're doing great job :)
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At the beginning of the post use
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Good luck mate :) Obviously upvoted
Yours, Piotr
Oh and I also wanted to thank you for your comment in my latest contest. I appreciate your time and support. Cheers! :)
You are welcome. I don't mind replying to a message as long as it's not a spam.
Im glad Im not classified as spam hahaha :)
Sure not! Although some of the spams are hidden automatically by Steem. People probably flag them but I'm not going to bother using my voting power to flag spam comments.
neither would I
I was wondering if justifying text was possible. Didn't find on the markdown styling guide. And obviously I didn't google it but now I find it and surely use on my posts from now on. Thanks for the input!
Let me know if it's working. Good post about this topic:
https://steemit.com/html/@dyrits/steem-it-1-how-to-justify-your-text
That's what I'm using. I also played with image alignment. I might use them on my next posts.
It will definetly make it look much nicer :D
I does make them nicer. I used this kind of style on my personal website/blog so I'm used to it.
you mind sharing with me your webiste/blog link?
It's on my bio. It's http://www.gunplajagatraya.com the content is similar to what I posted daily here but since there is an incentive here I focus on building a following.
It's quite a small niche but I'll just start from here. So far Steem has been good investment for me. I think I almost double my investment here.