Bitcoin Price Forecast 2/28/2018
Don't forget to stop and smell the flowers from time to time.
Current Market Cap: $448.66B (-$10.1B in one day) Bitcoin Dominance: 39.8%(+0.4%)
Over the past week Bitcoin has increased its share of the pie while the rest of the market continues to fast. The epic rise of alt-coins, especially tokenized ICO projects, propelled the market cap to unnatural highs so this consolidation period is healthy for the entire space. Without a second wave of investors the prices can remain relatively stagnant for some time.
Consider this an accumulation phase while we set the stage for the next jump.
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastics and MACD.
Bollinger Bands show we are below the moving average (around $10,600)
Stochastics indicate we are very oversold.
MACD shows that we are slightly below the Zero Line but tapering down on the histogram (red bars). Watch for a crossover of the Zero Line by the blue line suggesting a bullish trend.
Likely Scenarios:
- BTC tests that low $10K support level before rallying back up to the mid $10K zone by midday.
- BTC finds the volume it needs and pushes back towards $10,700-$10,900K by tonight.
- Another attempt at $11K by tomorrow morning with newfound support in the mid $10K zone.
TLDR Version:
Bitcoin is alive and well, don't believe any of the FUD out there! Considering that one year ago the average BTC price was near $1,000 I would say we aren't doing too bad. Strong support in the low $10K zone with resistance still set around $11K.
Price Target:
$10,950
Alt-Coins To Watch:
Many of my favorite coins are super low right now so I would consider increasing positions slowly. This is where I continue to stress the importance of cost-averaging when buying crypto- buy a little now and some later. If the price continues to fall then you won't be frustrated because you went all in at a higher price.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-2-27-2018
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 or created by myself. The picture of the bee and flower was created by me with a Canon Rebel T6 in Pacific Grove, CA- 2/17/2018)
gave you a resteem and a speed vote is coming your way!
Aweosme
Cool man hopefully I'll get some views from Aceh!
I would have to resteem at night time for the veiws! 😂😂 maybe next post👍
It seems to be around 10k for very long time now. How do you get jerrybanfield to follow you?
He has an upvoting service :-D!
Bitcoin Price Forecast this is a good tropic of you.your post always educative.i don,t know bitcoin matter.because unfortunately bitcoin not yet of my country.i am full new joined to steemit.so,my needs knowing its important matter properly.i read your post and i am knowing about bitcoin.thank u very much for your good tropic sharing.its really helpful for me.my dear friend.. @hotsauceislethal
You got a 15.38% upvote from @mitsuko courtesy of @hotsauceislethal!
This post has received a 0.50 % upvote from @speedvoter thanks to: @jonyoudyer.
You got a 2.84% upvote from @upboater courtesy of @hotsauceislethal!
You got a 0.99% upvote from @postpromoter courtesy of @hotsauceislethal!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
Hello, nice to meet you, listen to this song. https://steemit.com/kr/@soyul1004/yim-jae-beum-desperado-korea-s-top-singer
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.