Bitcoin Price Mini T.A. 12/30/2018
Current Market Cap: $130.26B(-$0.56B in one day) Bitcoin Dominance: 51.8%(-0.2%)
*
Today I'm using three different trading tools and indicators: Bollinger Bands, Stochastic RSI and MACD.
Bollinger Bands show we are slightly above the moving average ($3,780). High ranges at $3,850 and low ranges at $3,700.
Stochastic RSI indicates normal conditions nether overbought nor oversold (64).
MACD shows we are just below the Zero Line and the histogram is fully tapered down. We are testing those support zones again in the $3,800-$3,850 range. There could definitely be a drop back down like we just had which would give day traders the ability to make a nice profit today.
Price Targets:
Entry $3,100- $3,800
Exit $3,900- $4,600
With the complexity of the market keeping the majority of new users at bay right now us veteran traders and HODLers are sitting tight just waiting. The weak hands have been mostly pushed out at this point leaving only sellers of last resort.
When given the option of going bankrupt or selling the smart investor will always do the latter. In order to keep their companies solvent there will be a certain amount of capitulation in the crypto space and a lot of that downward selling pressure will be on Ethereum markets.
Bitcoin will stay strong however since it is still the main trading pair and probably will remain as such until stablecoins can take over the market pairs. Having already shed the vast majority of its market cap many of us believe we have already bottomed out.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-12-29-2018
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.)
We are on the right way
There is still a lot of bearish sentiment mixed in with the bulls right now. Many experts are calling for the next bull run to start late 2019 and Bobby Lee even said late 2020!
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