Current Market Cap: $137.78B(-$0.22B in two days) Bitcoin Dominance: 51.8%(+0.3%)
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Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastic RSI and MACD.
Bollinger Bands show we are above the moving average ($4,000). High ranges at $4,050 and low ranges at $3,960.
Stochastic RSI indicates overbought conditions (85).
MACD shows we have just crossed over the Zero Line with a positive histogram that is also rising. Usually a very bullish sign for short term traders.
Price Targets:
Entry $3,400- $4,000
Exit $4,100- $4,400
There is some momentum gaining in the market but it comes in waves. Bitcoin and Ethereum are both doing quite well recently as the market sentiment is shifting slightly.
There is a lot of talk about a mass alt-coin extinction and we have already seen a significant amount of coins fail so it may already be underway.
Without a "culling" of the cryptocurrency markets we cannot be taken seriously by institutional investors who need to differentiate the real winners from the losers first. From there we will be able to develop and grow only the most valuable projects and assets into future real world solutions.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-1-6-2019
Feeling Salty About Missing The Crypto Boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
Need A Good Laugh?
https://steemit.com/bitcoin/@hotsauceislethal/what-kind-of-crypto-trader-are-you
Keep A Strong Hand!
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-increasing-dominance-and-shrinking-market-cap
My Latest Series:
https://steemit.com/bitcoin/@hotsauceislethal/crypto-for-noobs-1-when-to-buy
https://steemit.com/bitcoin/@hotsauceislethal/crypto-for-noobs-2-when-to-sell
*Never invest more than you are willing to lose and always do your own research before making any investment decisions. I am NOT a financial advisor and this is NOT financial advice- this material is intended for entertainment and informational purposes only. Hit "CTRL + or CTRL -" to change size of chart.
(All pictures are free domain images created by myself with the help of Coinigy.com.)
