Sunny days are coming. Soon we will all be in paradise!
Current Market Cap: $494.36B (-$11.49B in 2 days) Bitcoin Dominance: 37.1%(+0.8%)
With no serious bad news coming out over the past two days there has been a steady increase across the board for the most part. In the past day however, we saw a slight pullback with some profits being taken above the $11K zone. The recovery has been slow and steady but things are looking bright. The US seems to be fully behind blockchain and new innovation in the industry whilst other countries seem to be walking on eggshells.
One thing is for certain- this technology is here to stay.
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastics and MACD.
Bollinger Bands show that we are slightly above the moving average which is around $10,700.
Stochastics indicate that we are overbought.
MACD looks sluggish with a potential turn for the downside. Keep an eye on any crossover of the two moving averages and a fall below that zero line.
Likely Scenarios:
- BTC attempts the $11K resistance levels again before dropping back down to around $10,300.
- We break the resistance levels at $11K and see $11,300-$11,500 by tomorrow.
- There is an attempted shake-out and the price drops down to previous support levels of $9,600-$9,800.
TLDR Version:
Good things are developing across the entire space. The market recovery is well underway but we have quite a while to go until we are back at all-time highs. Expect support around the high $9K level to low $10K with resistance at $11K.
Price Target:
$10,950
Alt-Coins To Watch:
- LTC (Litepay launch in a week)
- NEO (New ICOS soon)
- EOS (4 months to main-net)
- LSK (Rebrand in 48 hrs)
- MANY MORE!
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-2-17-2018-express-version
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
The picture above was taken at "Lovers Point" in Pacific Grove, California (2/17/2018) by me!
*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 created by myself.)
