Bitcoin Price Mini T.A. 5/12/2018
Current Market Cap: $379.89B(-$14.26B in one day) Bitcoin Dominance: 37.5%(+0.1%)
*
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 which is around $8,430. High ranges at $8,625 and low ranges at $8,235.
Stochastic RSI indicates normal conditions, neither oversold nor overbought (46).
MACD shows we are below the Zero Line and the histogram is fully tapered down. Watch for a flip to the downside and a crossover of the MAs which would push us further towards the lower support levels of $8,250 and $8,150.
Price Targets:
Entry $7,750- $8,250
Exit $8,650- $9,400
Sometimes it feels like Deja Vu when we keep seeing South Korea FUD appearing in the news alongside Bitcoin smear articles. In just one week we went from testing the $10K price point back to where we were almost a month ago, nearly erasing all of the gains we have seen since the end of tax season.
This presents us with a fantastic buying opportunity as Bitcoin finds its comfort zone. We are still slightly above the profit parity for mining BTC so it will be interesting to see if we can hold above the critical $8K levels.
Leave me a comment down below and let me know what you think of the South Korea FUD and the MtGox trustee selling BTC before the promised September deadline.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-5-11-2018
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.)
BTC is at moving average now, hope this is a start of great keep off. I only read about the MtGox incident a few hours ago, never really knew what caused the drop before. I guess it is because I'm not trading anymore, simply HODLING!
Good strategy. These times will be very volatile until people regain interest in buying more BTC. The end of 2018 will prove to be the most pivotal time for the regulations and laws being put in place.