CryptoPub Daily - Thar she bounces!

in #cryptopub6 years ago

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Good Afternoon CryptoPubbers! Grab a drink and lets cheer for a continued bounce! What's going on.........

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Bitcoin and crypto are hanging on to yesterdays levels as we scream towards the weekend as BTC is less than a percent lower than it was yesterday at this time at $6,450. ETC is slowest to recover down 7% as it corrects from the great run it had last weekend. The clown race is looking neat with Tron, Funfair and Lumens up around 2% but it is 0X in the lead up 6% as the popular burgeoning alts are showing early signs of bouncing back.

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T&A today brought to you by @masterthematrix who has found a neat Bitshares game https://steemit.com/steemhunt/@masterthematrix/nowcoingame-the-first-bitshares-assets-game
Looking at the daily Bitcoin chart (each candle is 24-hours of price action) we can see the buy line is again threatening to get up off exact zero (Lego Movie?) and the MACD is at almost the same place it was the last time we approached 6k. The question we will have to answer is whether the green volume bar will hold and the bears have been shaken out over the last week, or whether this is just an end of week rally to be squashed over the weekend and Monday morning again. The eternal optimist sees a testing of 2 resistance lines on the way to the Median Bollinger line around $7500. The pessimist in me sees the weekend coming and remembers a couple days ago when the STOCH showed signs of life only to fall flat again and is digging around for some FIAT to snap up the elusive sub-6k BTC.

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Bonus T&A is brought to you by @donald.porter who is using Parley to blog about masternodes and passive income https://steemit.com/parley-masternodes/@donald.porter/20180808t195727879z
As much as I would like to look at other charts and see where we are going, their immediate fate lies in that of Bitcoin so I am looking at the 3 hour chart for a change of pace and decision on where I scalp my $6201 BTC. The MACD crossed up for that nice bounce we saw and the green bar being the same size of the last big red bar is a good sign. There is room to grow on the STOCH but we are almost at the Bollinger Median line which is around where it will stop if we are to stay bearish short term. My favorite part of the chart is the Bullish diversion between price and both STOCH and MACD (lower low on price and uptick on the STOCH and MACD) which might suggest blowing through the Median line and perhaps even the resistance line at around $6750.

Coins making with the bouncy bounce a little stronger than mama BTC include:

Personal TRading Strategy today - Convert a touch of BTC into Ethereium Classic, Set BTC limit sell at resistance, Hold onto butt


Source: https://www.ccn.com/bitcoin-price-rises-3-in-gloomy-cryptocurrency-market-recovery/

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