Hello world!
This is my Crypto Market update from today:
On the BTC/USD daily, we can see that Bitcoin bounced nicely from the trend line, the base line of the descending triangle pattern. It barely touched the lower band of the RSI and jumped right back up, without having the chance to reach the oversold area. I mention this one more time: in all this time (crash, correction however you want to call it) it barely reached the oversold level one single time! The MACD also crosses over the signal line, indicating a bullish movement and it has a pretty solid momentum.
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Ethereum is still standing in it's descending wedge pattern, finding support at one peak from mid October 2017. The volume has definitely increased starting with March and it is still in the oversold area. Also, the MACD crossed the signal line for the first time since March
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Neo (NEO/USD one day chart)dropped below the long trend line and it is finding support at this current level. Despite the fact that the MACD crossed the signal line, it has not such a great momentum as BTC or ETH and it has no volume.
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Nothing much is going on with IOTA. It is currently in this sideways movement, finding support at previous resistance levels. Its has no volume and the MACD isn't showing any signs of a breakout.
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EOS is looking great at the moment. It wasn't so affected by the bearish trend. It jumped right back up from the 78% retracement level, has good volume and the MACD is over the signal line for some time now.
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Ripple XRP is boring ATM. Sideways movement and nothing going on.
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And finally we have BCH/BTC on the daily. Bitcoin Cash will probably lose more value in satoshis and will have a massive pump in the future, based on it's history, when it comes near the 0.06 sats level.
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this really makes a difference!
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Nice TAs, hopefully BTC breakouts from the triangle soon. In terms of the altcoins most are just consolidating and aren't doing anything, but EOS gives me some hope!
Rumor has it that it will happen soon.. starting this month hopefully.