RE: Market Snapshot - September 17th 2018
Trading weekend.
Although the markets broke the triangle in the upward direction. The weekend ended up just as a trading range, waiting for volume to join and take a clear direction.
Bitcoin kept trading around the $6500 area, over the 50 and 100 MA lines. There has been a couple of big long lower wig bear candles in a sign that bulls are not letting bears take control and send the price down again but the low volume makes it clear to see a direction. Stochastic is in oversold so we may see the market moving slightly up today if the range can be broken.
EOS had the same pattern extect it was mainly trading above all MA lines punching the $5,5 level. Low volume kept the price ranging and stochastic is also on the lows this morning. I expect BTC follow up although lots of new dApps are pumping up the EOS ecosystem and volume may finally appear.
STEEM was no different, excep for the huge bull candle we had yesterday. Here the asset was trading over the three MA lines which are all three almost overlapping. Again, volume is needed to develop a clear trend.