Bitcoin Price Forecast 2/12/2018
Rome wasn't built in a day and neither was Bitcoin.
Current Market Cap: $428.85 (+$14.89B since yesterday) Bitcoin Dominance: 34.6%(+0.4%)
And yes I know that is a picture of GREECE but it was still part of the Roman Empire :-D
All in good time my friends, all in good time. This market has seen the most ridiculous growth, stemming from the all of the hype combined with the networking effect and good ol' manipulation. The release of futures trading only caused even more chaos as it drew attention to Bitcoin while not directly pushing up BTC prices, since the contracts are essentially CASH bets on the price going up or down over time. Tack on some government regulations and you have the current state of affairs.
We needed to pump the brakes and for good reason!
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastics and MACD.
Bollinger Bands show we are above the moving average again (bullish sentiment still).
Stochastics show we are overbought and holding in those ranges (bullish).
MACD shows both moving averages above the zero line, watch for any drop (remains bullish).
Likely Scenarios:
- BTC attempts to break past the resistance and establish $9K+ support levels again.
- BTC drops to the $8,650 zone before finding support and climbing back up to high $8K zone.
- A large pump in volumes shatters the $9K resistance and we see $9,100-$9,300 by tomorrow.
TLDR Version:
As more and more people realize that Bitcoin is here to stay the investor confidence is returning. People that felt they were too late for the Bitcoin boat last month are now finding the buying opportunities of a lifetime. Expect SUPER strong support between $8,300-$8,500 and resistance at $9K today.
Price Target:
$9,250
Alt-Coins To Watch:
Nearly every coin is at the price it was two months ago. Great time to stock up on those coins you wanted to get but missed out on.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-2-11-2018-express-version
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
*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)
It is kind of nice seeing the price moving mostly in single digit percentages for awhile. It may seem boring to some but it's nice to see some stability after the crazy couple of months we've had.
I added a few new coins to my portfolio in the past couple of weeks and increased my position size in others. Pullbacks are painful to watch sometimes but they're also great opportunities...
The best entries always feel the worst to take.
actually its santori not greece, lol just kidding i dont know what the hell im talking about, same goes for crypto, thats why i always look forward to your forecast!!!!
Hahah you're funny man.
I have to go to work soon :(
Hang in there buddy, besides a shit load of rich people are in town for the golf tournament. They probably want to end there stay with a visit to hotsauce man!!
Soon my friend... soon...
We will both be able to retire and live off our STEEM!
Just found your posts, pointing back to what you were reporting two months ago gives me some reason to consider your advice has some value.
Which is a huge compliment. Compared to most of the TA prediction crap on steemit
This post has received a 20.28 % upvote from @booster thanks to: @hotsauceislethal.
i'm glad the volatility has died down a little bit, it was too stressful