RE: Market Snapshot - May 12th 2018
Good Bearish morning! What a day!
According to Fundstrat Global Advisors CEO Tom Lee, next week Consensus will be the start of a Bullish trend. Don't know if that has something to do with yesterday bear markets but I hope we see a nice turn around soon.
Bitcoin keeps its downtrend after crossing the 200MA and now is pointing towards the $7850 support line. If the price does not reverse there, next station is $6800, the low from last month.
EOS has had a strong drop, the $15 support line was not able to hold the price and not is trading around the 200MA. If the market remains bearish the price could reach the $10 levels.
Finally, STEEM/BTC bounced up after crossing the 32K satoshi support but now price seems to resume downtrend. We will have to see if the market bounces up again or leads towards the 26K satoshi area.