Current Market Cap: $216.33B(-$2.01B in 3 days) Bitcoin Dominance: 52.4%(+0.1%)

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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 well below the moving average which is around $6,560. High ranges at $6,630 and low ranges at $6,500.

Stochastic RSI indicates oversold conditions (7).

MACD shows that we are below the Zero Line and the histogram is negative. There are no immediate signs of support as both indicators continue a downward trajectory.

Price Targets:

Entry $6,100- $6,450

Exit $6,550- $6,900

Tonight we saw a snap correction on the prices which sent BTC back down below the critical $6,500 support level. Price manipulation could always be suspected as there are many long contracts out after news of a market bottom. Margin traders are probably cringing right now and holding onto the edge of their seats.

With Bitcoin at its lowest point in five days we could be expecting a very sluggish recovery of the market. It feels as if we have been stuck at these levels for ages!

As I have stated before- this is an accumulation phase where prices are feeling out their bottom support ranges. We still have yet to break down that $5,777 level so I am still optimistic that we will see a major recovery in the next 6-18 months.

Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-10-7-2018

Feeling Salty About Missing The Crypto Boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out

Fantastic Documentary About Relevant STUFF! (MUST WATCH!!!)
https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary

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.)