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RE: Market Snapshot - September 16th 2018

in #steemit6 years ago

False triangle breakout.
After breaking the triangle on the upper side. Bitcoin corrected down due to lack of volume and crossed the 50MA and creating a small bear trend which ended with a huge lower wig bear candle hitting the 100 MA acting as a support. The market then bounced up entering into a trading range.
We may see a flat day waiting for volume to push the market up again.

Screen Shot 2018-09-16 at 12.02.06.png

EOS had a much stronger triangle breakout with a huge body bull candle but the market could not keep moving up and corrected down hitting the 100 MA with the last bear candle wig and then also bounced up. All in all, the price is around the same level it was yesterday.

Screen Shot 2018-09-16 at 12.02.27.png

STEEM also broke the triangle and actually started trending up but could not break the 100 MA resistance line and corrected down. Now is ranging between 100 and 200 MA lines waiting for volume to define a new trend, we will probably have a flat Sunday.

Screen Shot 2018-09-16 at 12.02.42.png