Bitcoin Price Mini T.A. 12/21/2018
Current Market Cap: $127.20B(-$5.95B in one day) Bitcoin Dominance: 53.2%(-0.5%)
*
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastic RSI and MACD.
Bollinger Bands show we are below the moving average ($3,990). High ranges at $4,135 and low ranges at $3,845.
Stochastic RSI indicates extremely oversold conditions (<1).
MACD shows we are below the Zero Line, the histogram is negative and peaking out. We could continue testing further lows today as the market sets up solid support zones.
Price Targets:
Entry $3,000- $3,900
Exit $4,100- $4,700
The market rally has seemingly stalled today as the traders are beginning to take profits across the board. Bitcoin dominance is slowly falling while the market cap has decreased which indicates a transfer of funds outside of the cryptosphere back to fiat.
As the US stock markets continue to take a beating on the geopolitical news that keeps pushing them down perhaps crypto markets are beginning to look more attractive to investors.
With the search for yields across the international markets Bitcoin may not seem like such a risky investment anymore. Most other markets (i.e. housing, bonds, stock) have begun to top out this year and a well informed minority already knows this and will be looking for a safe haven in 2019.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-12-20-2018
Feeling Salty About Missing The Crypto Boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
Need A Good Laugh?
https://steemit.com/bitcoin/@hotsauceislethal/what-kind-of-crypto-trader-are-you
Keep A Strong Hand!
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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