12 May 2019 | Darcy K. Butcher, MA, Journalist | Pacific Rim International
TOTAL MARKET CAPITALIZATION $200 BILLION
Bitcoin has surged over $6,000 and within days reached over the $7,000 mark. The weekend Bitcoin saw an outstanding higher high of over $7500 USD on most exchanges. Some global markets saw BTC range over $10,000.
The bulls have rallied, re-awakened with stealth boldness. On the back of this current, quick and massive rally, the collective market capitalization skyrocketed over $200 billion for the first time in six months.
Bitcoin has slowed and is walking up slowly. It has room to roll before a major signal to sell is triggered with any indicator. Short positions continue to decline. Bitcoin on 4-hour stoch is heading up which signals short time strength. Indicators on the 12 hour has showed some weakness and exhaustion which is not necessarily a sell signal. The 3-day timeframe shows oscillators traveling upwards. Despite strong bullish sentiment Bitcoin historical volatility keeps a possibility of a 12-40% drop with any back test.
#BTC SUPPORT ZONE
$5800 - $6450
CME FUTURES GAPS
Expected to open $7150 Sunday pm (12 May) with volume to the downside
$6290
$6080
$4850
Ethereum #ETH Bull Targets
Base Support currently is $192.50
$217
$253
HISTORICAL NOTE:
Bitcoin found support at the 55 and 100 EMA in 2015 after a short squeeze. If BTC follows this pattern it will find support $5200 - $5300 range on a pull back.
Litecoin #LTC
Halving in August puts LTC in a positive accumulation as well as trade prospect. LTC is still above all moving averages and sits bullish after a little consolidation.
Bullish set up as is moving back towards higher highs. Ralley possible.
Bull target range $110-112
BINANCE #BNB
Walked up to $22.50. Reaching for $22.90 range. Daily stock cross to upside keeps BNB marching up towards the $23 mark.
With volume and positive 4-hour indicators in play a move upwards continuation possible.
#BCH
Bull move to $590 on horizon
#EOS
$5.90 Bull Target
$6.28 is resistance
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RVN: RSoGtGuYYwNL8L7hYZEZNU6gHi92AQ6bWB
BTC: 17ensjJ2gaKfNfaZhzU7cEtJmV1Govtqq
LTC: LPKiZK65DFCoVQu7RAAizK1cCj4C9qcAHg
BNB: 0x2a19200dec8b815035960ad703e03a3f7796bbfd
Darcy K. Butcher, MA. BA Print & Photo Journalism
Writer, Print and Photo Journalist, Blockchain Educator
I am interested in cryptocurrency as a social, cultural, financial point of view.
For educational purposes only. This is not financial advice. DYOR
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