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RE: Market Snapshot - May 7th 2018

in #steemit7 years ago

After approaching $10000 mark, Bitcoin just retraced again and the 1hr chart shows it is back into the trading range it started at the end of April. Volumes remain low and the price just punched the 50MA, let's see if it holds as a support.
Screen Shot 2018-05-07 at 09.17.36.png

Most of the rest of the altcoins are acting the same way, EOS touched the resistance line at $18,6 and bounced down back to the trading range, but this crypto may experience a nice pump as we approach the end of the month.
Screen Shot 2018-05-07 at 09.18.04.png
Finally STEEM remains just below the uptrend channel line in the 4hr STEEM/BTC chart.
Screen Shot 2018-05-07 at 09.18.40.png
But if we look at the daily chart it shows a clear bull flag after the uptrend rally, so we are still in bullish season.
Screen Shot 2018-05-07 at 09.27.37.png