Current Market Cap: $327.40BB(-$8.1B in one day) Bitcoin Dominance: 38.6%(+0.2%)
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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 just slightly below the moving average which is around $7,470. High ranges at $7,600 and low ranges at $7,335.
Stochastic RSI indicates normal conditions, neither oversold nor overbought (53).
MACD shows we are below the Zero Line and the histogram is negative. Would only take a moderately sized sell order to drop us back down even further and re-test the February lows again (~$6,500 range).
Price Targets:
Entry $6,500- $7,400
Exit $7,550- $8,600
We are at a very critical junction for Bitcoin and crypto markets. The US government is finally taking serious steps towards regulation in this industry.
Any time there is uncertainty there will be panic!
If there is anything that crypto markets don't like it is uncertainty. What will the next week hold in store? I predict a series of bad news events which will push us even further than expected. As per usual bad news comes in threes for Bitcoin so get your portfolios in line.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-5-24-2018
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
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
*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.)
