Current Market Cap: $130.82B(-$1.80B in one day) Bitcoin Dominance: 52%(No Change)

*

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 ($3,875). High ranges at $3,920 and low ranges at $3,835.

Stochastic RSI indicates oversold conditions (< 3).

MACD shows we are above the Zero Line and falling. The Histogram is negative and stabilizing so there will be a hard test of the $3,750-$3,850 support levels over the next day as we establish "fair value" for this asset.

Price Targets:

Entry $3,100- $3,850

Exit $3,900- $4,600

Yesterday we attempted to break past the $4K resistance level but there was a failed breakout. This sent us back down towards the most recent support levels around $3,850 almost immediately. That support has been slowly edging down towards the low $3,800 level.

Buyer support will have to step in for us to prevent a drop back towards $3,750 or lower. A sell-off is not unreasonable today however many of the selling seems to be exhausted already. The weak hands have already given up much of their holdings, if not all, during this crypto winter.

The market seems stuck between a rock and a hard place with the SEC pressing in from every direction and the IRS lurking in the background. The only hopes on the horizons are the Bitcoin ETF in 2019 and proposed legislature that would exempt cryptocurrencies from the SEC's jurisdiction.

Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-12-28-2018

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.)

Click Here To Join Canna-Curate Discord