Current Market Cap: $283.79B(-$62.54B in 8 days) Bitcoin Dominance: 39.7%(+1.7%)
*
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastic RSI and MACD.
Bollinger Bands show we are just below the moving average which is around $6,570. High ranges at $6,635 and low ranges at $6,500.
Stochastic RSI indicates normal conditions, neither oversold nor overbought (57).
MACD shows that we are slightly above the Zero Line and the histogram is tapering down. We will need to sustain both moving averages above the ZL for support to hold in the mid $6K zone.
Price Targets:
Entry $5,500- $6,500
Exit $6,700- $8,000
With more attention being brought to the manipulation and fraud allegations this week we saw a massive drop in prices and overall decrease in buyer demand. Smart investors are waiting on the sidelines for further developments and even steeper discounts on BTC. HOLDers are probably freaking out- scouring the internet for information on the decline.
This is all part of the growing process: there will be ecstatic upswings and soul-crushing downswings.
What are your thoughts, hopes and dreams for Bitcoin? Will we find a bottom soon or are the prices still too fragile to stand up?
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-6-7-2018
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.)
