CryptoPub Daily - Red Thursday

in #cryptopub5 years ago

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Good morning CryptoPub. A little more general financial correction starts and is playing with Cryptos so lets have a drink and check on the technicalities so we can prepare.

Oct 11 Ticker.jpg

A nice correction in crypto followed that of the stock market yesterday as volume is back and Bitcoin is down 4% to $6,325. Ripple, Bitcoin Cash, ETH, NEO, OMB and ZEC are all down over 10% comparatively with similar retraces across my ticker. The Poodle Race has XLM, ZRX, TRON and ELF all down around 10% and FUN in last place, down 17% in 1 day!

Oct 11 BTC T&A.jpg

T&A today brought to you by @drewley who gave us a little warning yesterday https://steemit.com/crash/@drewley/major-correction-underway
Looking at the daily chart,the 24-hour price action in that last candle is looking big with the sell volume returning. The MACD has crossed down and the 4-month support line I mentioned yesterday seems to be providing some short term support. With room still to drop on the STOCH buy support index, we should drop further still and I have a couple targets set by small, short term incremental buys. I will be watching the bottom of the STOCH for a clean bounce where the trend line is, or a drop to zero and a skid to nullify that.

Trading Strategy today: Set some low limit FIAT buys, play some of the BTC pairs to amass more BTC in the next few days, convert a teeny bit of BTC to XRP, BCH


Source/News: https://cointelegraph.com/news/crypto-markets-see-sharp-drop-off-on-the-day-bitcoin-dips-below-6-300

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