Bitcoin Price Mini T.A. 12/5/2018
Current Market Cap: $121.29B(-$4.9B in one day) Bitcoin Dominance: 54.2%(+0.2%)
*
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastic RSI and MACD.
Bollinger Bands show we are below the moving average ($3,790). High ranges at $3,910 and low ranges at $3,670.
Stochastic RSI indicates normal conditions, neither oversold nor overbought (40).
MACD shows we are below the Zero Line and the histogram is negative although tapering.
Price Targets:
Entry $2,800- $3,800
Exit $3,900- $4,700
Just as suspected there was a re-test of the $3,600-$3,700 support levels as the capitulation phase continues. Fear is rampant throughout this space right now as there is still much up in the air. The SEC regulations are still not quite clear but they seem to be upping their levels of scrutiny and retribution towards ICO projects.
One thing is for certain and that is the decline in price is putting the pressure on many of these startup companies who still have bills to pay every month. Retail investors are losing patience, as well as money, as this bear market drags on for nearly 11 months.
Bitcoin is a waiting game and those with the most time and deepest pockets will win out over the impatient and impoverished. It could be a very long time until the bull run comes to save us all- so for now we sit and wait!
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-12-4-2018
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.)
This post was upvoted for being original and creative!
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Enjoy your day and stay creative!
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Yeah, I pity crypto start ups and investment companies. A few I know have shutdown.
Personally, I will not be focused on the prices and changes till the end of this year. I think many like me are focused on having a great Christmas already, a reason for the bear too.
Thanks for the updates my friend.
Have a great day!
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