Are we all having fun yet?
Current Market Cap: $520.04B (-$67.5B in 3 days) Bitcoin Dominance 33.3% (-0.3%)
This week has been quite erratic again as the market uncertainty continues to hurt prices. Lawsuits are arising left and right with the SEC and multiple US States trying to take jabs at crypto we will continue to see sluggish growth. The wild west days seem to be coming to an end...
Is Bitcoin's golden age over?
Today I am using three different indicators and trading tools: Bollinger Bands, Stochastics and MACD.
Bollinger Bands show we are above the moving average which is slightly above $10,000.
Stochastics indicate that we are at normal ranges and rising.
MACD is showing that we are approaching the zero line, which is a bullish indicator.
Likely Scenarios:
- BTC price continues to bounce between $9,800 and $10,200 until volumes increase.
- BTC attempts that $10,500 resistance zone and falls back to the 10K zone.
- A massive spike in volumes sends us above the $11K resistance level establishing new support.
TLDR Version:
There is a lot of uncertainty in the market right now and INVESTORS DO NOT LIKE UNCERTAINTY. This will continue to put a downward pressure on prices so expect a lot of resistance at the $10.5K-11K levels. Support levels are around $10,000 and $9,600.
Price Target:
$10,400
Alt-Coins To Watch:
Almost every coin is on sale today so pick up your favorite coins while they are still cheap!
*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from pixabay.com or created by myself.)
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-1-28-2018
Feeling Salty About Missing The Crypto Boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
Don't Worry:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-hype-cycle-is-finally-here
Fantastic Documentary About Relevant STUFF! (MUST WATCH!!!)
https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary
Like Bitcoin But Want To Avoid The Fees?
https://steemit.com/bitcoin/@hotsauceislethal/save-money-when-sending-crypto
Pay No Transaction Fee From Coinbase!!!
https://steemit.com/bitcoin/@hotsauceislethal/no-transaction-fee-bitcoin-trick-using-coinbase
Need A Good Laugh?
https://steemit.com/bitcoin/@hotsauceislethal/what-kind-of-crypto-trader-are-you
Why STEEM Is Going To Be A Powerhouse In 2018
https://steemit.com/steemit/@hotsauceislethal/steem-is-the-most-used-blockchain-in-the-world-still-highly-undervalued-and-underrated