Bitcoin Price Forecast 2/27/2018
With great power comes great responsibility. Nobody said being your own bank would be easy.
Current Market Cap: $458.76B ($+38.76B in 3 days) Bitcoin Dominance: 39.4%(+1.0%)
There was a never ending stream of crypto news as usual this week. Surprisingly the majority of it was good news which only strengthens Bitcoin's legitimacy in the public opinion. The resiliency of the markets in the face of FUD and government meddling has shown the public that Bitcoin is here to stay.
One day we will look back at $10K Bitcoin and wish we had bought more!
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastics and MACD.
Bollinger Bands show we are above the moving average (around $10,550)
Stochastics indicate we are in normal buying conditions but trending upwards.
MACD shows we are way above the Zero Line. Watch for a crossover of the Moving Average (blue cross over red from below) signaling a bullish move.
Likely Scenarios:
- BTC drops to the $10,150-$10,350 range before finding support.
- BTC tries to break past $10,800 again and attempts $11K resistance.
- Huge surge in buy volume by tomorrow pushes BTC to establish new support above $11K.
TLDR Version:
Bitcoin is showing its strength not just in price but in market dominance as well. Global adoption is slowly ramping up with governments finally taking a serious stance on cryptocurrencies this year. Expect prices to hold nicely over the $10K support level today with resistance near $11K.
Price Target:
$11,300
Alt-Coins To Watch:
- Alt-coin markets are still acting very erratic. I would suggest continuing to HODL any previous holdings but very cautiously cost-average your positions into any new coins. Don't buy into the HYPE! Always buy the rumor and sell the news.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-2-24-2018
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
*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.)
Agree with you, @hotsauceislethal. Nice chance to buy in now. I use the Elliott waves and what I see is the beginning of the 3-rd wave, which is usually very strong:
Some Zoom-In is in my my latest post. Please see, if interested.
$11 300 looks like very real target.
Thanks for the updates!
I always wished i had bought more. The 10k support looks very strong
Everything just happens so fast in this market that it can be hard to time. I also stress the importance of cost-averaging and diversification to all of my friends.
Thank you for collaborating with me to promote this post as explained at https://steemit.com/steemit/@jerrybanfield/10-ways-to-fund-a-steem-growth-project.
You got a 1.32% upvote from @buildawhale courtesy of @hotsauceislethal!
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