Crypto Rally Still Looking Good
Hello Steemians! As I write this post on this Sunday afternoon, our favorite rally still looks intact. Let's have a look with BTC first.
Not much to add from yesterday, as we have a second small body candle again. But it is important to note that we are trading near the high and we didn't drop even with the low volume over the weekend. This is a good thing. We are overbought and we have lot of overhead resistance right in the 9000-9200 area, but with any good volume and momentum, we should be able to break through it. If not, then we will correct to 7800 level.
Steem:
We continue to hold above 10 EMA and trading slightly sideways. Again this is excellent sign that we are not dropping. We continue to be overbought, but just like I said yesterday; I do not think it is a big deal.
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.
Charts are created in Tradingview.com, which is a free service
Love that Steem is on the rise again. I am sure there will be another pull back but I am happy right now.
Thanks for your analysis. 8950-9000$ seem to be the hard resistance at the moment, really looking forward to seeing what is happening next with BTC. I am very optimistic for the whole crypto market; the rally is on for many Altcoins, and BTC market cap is declining again.
Even on a Sunday crypto is still in the green. Let's hope for that break through if not well a correction is always needed.
Solid analysis. The 9000 mark is proving quite resistant thus far, however as long the volume is maintained somewhat I can see BTC pushing through before the end of the week.
Thank you for the post.
Love the steady climb we are seeing at the moment long may it run :))