Bitcoin Price Mini T.A. 10/7/2018
Current Market Cap: $218.34B(-$3.45B in 6 days) Bitcoin Dominance: 52.3%(+0.9%)
*
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastic RSI and MACD.
Bollinger Bands show we are above the moving average which is at $6,535. High ranges at $6,565 and low ranges at $6,505.
Stochastic RSI indicates we are overbought currently (96).
MACD shows that we have just crossed back over the Zero Line into positive territory. The histogram is gaining as well.
Price Targets:
Entry $6,250- $6,500
Exit $6,700- $6,800
We have been trading in a seriously tight range over the past several days and the market seems to be consolidating. Buyer support is propping us up in the mid $6K zone as I have said in the past. This is a strong indicator of a healthy bottom.
We still have yet to breach that $5,777 market bottom support price.
Will we ever see Bitcoin prices sub-$6,000 again? Or will the exchanges and institutional investors keep the prices afloat to protect profits?
Let me know what you think below :-D!
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-10-1-2018
Feeling Salty About Missing The Crypto Boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
Fantastic Documentary About Relevant STUFF! (MUST WATCH!!!)
https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary
Need A Good Laugh?
https://steemit.com/bitcoin/@hotsauceislethal/what-kind-of-crypto-trader-are-you
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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
https://steemit.com/bitcoin/@hotsauceislethal/crypto-for-noobs-2-when-to-sell
*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.)
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For a while now, Bitcoin seems to be fluctuating between $6500 and $6800. It is difficult to predict which of the limits it will break.
Many people say we have already bottomed and I think this HAS to be the case.
I have said this myself a couple of times but it failed to be the case. I hope is gonna be the case this time around.
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Enjoy your day and stay creative!
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