Bitcoin is unstoppable. Nothing can or will stand in the way of decentralization- it is the future.

Current Market Cap: $421.41B (+$58.76B in 3 days) Bitcoin Dominance: 34.5%(-0.8%)

The past five weeks have been the most interesting perhaps in Bitcoin's entire lifespan. We saw an all-time high followed by the most epic crash yet. Strong support at the $6K level saved us as the market said enough is enough. We are not quite out of the woods yet but things are starting to look up.

Can this bull market be sustained or is this just another bull trap?

Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastics and MACD.

Bollinger Bands show we are above the moving average which is around $8,300.

Stochastics indicate that we are overbought.

MACD shows we are above the zero line but tapering down so a drop is imminent. Watch for a crossover at the zero line.

Likely Scenarios:

• BTC drops back to the low $8,200-8,300 range before recovering above $8,500 by tonight.
• Increased volumes test the $8,700-$8,800 resistance zone before dropping back down to the mid to low $8K range.
• A bad news event causes more FUD and prices drop down to the $7,800 support level before closing above $8K.

TLDR Version:

Market confidence is returning but many investors are still cautiously approaching the situation. We have seen strong support in the high $7K to low $8K ranges. Resistance is firmly planted in the high $8K to low $9K zone.

Price Target:

$8,850

Alt-Coins To Watch:

• ADA
• NEO
• ICX
• ELF
• NXT
• KCS
• DRGN
• (AND MANY MORE!)

Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-2-4-2018

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.)