Crypto Coming Out of a Dip

Hello Steemians! This is blockchain week at NYC. Anyone interested and don't know what it is can look up "Consensus 2018" in google and will find out in gory detail what that is. What interests me however, is the fact that traders buying into the "blockchain week" over the weekend. So we are seeing some green daily candles. Let's have a look:

BTC found support in the 8200 area, and now basically trading at 8800 area which is also its 50 EMA. Crossing it convincingly with some volume support is good, but we are not quite there yet. This week it is likely going to be news driven, so not a typical TA week. However, I continue to observe 10K above and 7800 below. I think we will be between those two numbers for a while.

Steem:

Steem daily actually looks quite good compared to BTC. Steem held the 2.4 level and reversed, and now we are on our second green candle. Steem is trading just above its 50EMA at 3.17. The reason the chart looks nice is that, it is bouncing from a predefined support level and it is oversold in an uptrend, based on stochastic. This is usually a good buy set up. Let's see in the next couple of days if we rally up or not.

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

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