We had a strange reaction this weekend. Most of the two days were calmed but yesterday a sudden drop came in.
Bitcoin lost the $8000 level but the bulls reacted immediately after hitting the upper trend line started a few days ago and raised the price above that level again (4hr chart). Now Stochastic is in oversold levels again and we could expect previous days uptrend to resume.

![Screen Shot 2018-07-31 at 09.42.18.png](https://cdn.steemitimages.com/DQmV5F5xTYnxohJuC2TsVJ6UnA6CJJFrxACqyjErXubBMG6/Screen%20Shot%202018-07-31%20at%2009.42.18.png)

EOS lost quite a bit and has not been able to recover as bitcoin the price is at $7,5 now. It hit the triangle line from previous days and that acted as a support. Now volume is low again and stochastic with big oversold signs so we might see a price recover.

![Screen Shot 2018-07-31 at 09.42.34.png](https://cdn.steemitimages.com/DQmfXqUBZm9Q1yfsYY3CiH3JaP47zvD5mpei7r4DmU5Nq9P/Screen%20Shot%202018-07-31%20at%2009.42.34.png)

STEEM had the opposite reaction that bitcoin. It suddenly went up with a huge green candle getting out of the downtrend channel and reaching $1,5, but then the bears pushed the price down leaving a big candle wick and developing a bear candle next. Now the price is back inside the channel and all MA lines are quite close. No clear direction yet.

![Screen Shot 2018-07-31 at 09.42.52.png](https://cdn.steemitimages.com/DQmNkVMro4HQSi1dVH3SN83tqBYQuFNj5qLU3J7dxcQ7Kpu/Screen%20Shot%202018-07-31%20at%2009.42.52.png)

$1.41 for steem?  I still don't know what to say. 
Eh,  what do you have to say about some exchanges  spiking the price of steem and sbd on there platform, it happeed last week,  I was thinking  you'll  talk about it,  I forgot  too. 
![IMG-20180727-WA0026.jpg](https://cdn.steemitimages.com/DQmPxqJN1xRfeMLpvfbzxQJmWuAdPBFemxLmwS7UKU9KyKJ/IMG-20180727-WA0026.jpg)

The opening day for many retail traders and investors proved to be relatively slow across the board, with BTC only managing to range $100 to the downside since this morning. Bitcoin continues to respect the channel of $8,060 - $8,310 with price not testing either of these levels over the past 24hrs.

The 4hr chart shows the clear consolidation and minor channel that price has formed since being rejected at the $8,600 level. It is still unclear of which way price will break but i believe the longer we trade within this region, the strong the break will be, either to the downside or the upside. I believe we could range within this price region for the next few days before retesting the $8,600

**Coins mentioned in post:**

Coin | | Price (USD) | 📉 24h | 📉 7d
- | - | - | - | -
**BTC** | Bitcoin | 8126.422$ | _-0.36%_ | _1.59%_
**EOS** | EOS | 7.567$ | _-7.46%_ | _-6.42%_
**SBD** | Steem Dollars | 1.182$ | _-1.42%_ | _2.0%_
**STEEM** | Steem | 1.402$ | _-0.23%_ | _3.62%_
**XLM** | Stellar | 0.277$ | _-7.77%_ | _-5.36%_

It is good to see a mild increase in steem value. We hope for STEEM to grow more in the future.

Over the past week since price testing the $8,600 and was rejected price has been very stagnant, consolidation within the range of $8,310 - $8,075 for the majority of the time since price rejected this area. Consolidation periods are very common in any financial markets after aggressive moves in price, be sure to watch for any signs off a breakout of this region. The most likely of short term scenarios will be a break of this region and a retest of the $8,600 region. 

![Screen Shot 2018-07-31 at 6.28.34 pm.png](https://cdn.steemitimages.com/DQmcqB4pvxhPjJahupmyuXSnMQPbfzqQ43WFkPU1hJqMXRz/Screen%20Shot%202018-07-31%20at%206.28.34%20pm.png)

Totally a surprise to me too that bitcoin holding up while most altcoins down. It seems the roller coaster is continuing downhill. Hopefully one day it will stop and change directions. Thanks.

Alts simply going under ground what a major fall this is this keep dipping all the way

Well that's strange
Tether is rising and other are falling :)
hahah