Bitcoin Price Mini T.A. 12/22/2018
Current Market Cap: $129.23B(+$2.03B in one day) Bitcoin Dominance: 53.1%(-0.1%)
*
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastic RSI and MACD.
Bollinger Bands show we are right near the moving average ($3,850). High ranges at ($3,935) and low ranges at ($3,765).
Stochastic RSI indicates slightly overbought conditions (65).
MACD shows we are below the Zero Line and the histogram is tapering down. Watch for a crossover at the Zero Line to indicate a push back up.
Price Targets:
Entry $3,000- $3,850
Exit $4,000- $4,600
We are struggling to establish new support zones in the high $3K zone right now after the market bottomed out this week. There is a lot of selling pressure during the holiday season as the consumer economy begins to churn.
As we approach Christmas and New Years we are expected to see a slight rally- partly due to decreased sell order and also partly due to the networking effect.
This next year should be extremely positive for the cryptocurrency space as a whole now that much of the hype and drama has subsided. What are your hopes for Bitcoin in 2019?
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-12-21-2018
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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i thinkWe are now at the lowest RSI on weekly since Jan 2015. In my opinion we are now witnessing a beginning of a new small bull run back to it's previous support (now resistance) of $6000 ish .
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It would be nice to see the developing head and shoulders pattern bring us back towards that $5-6K comfort zone.
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