Bitcoin Price Mini T.A. 4/25/2018
Current Market Cap: $395.76B(-0.89$B in 3 days) Bitcoin Dominance: 38.6%(+0.3%)
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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 which is around $9,200 right now.
Stochastic RSI indicate normal conditions, neither oversold nor overbought.
MACD shows we are below the Zero Line with a tapering histogram. Watch for the moving averages to crossover at the ZL once buy volumes pick back up.
Price Targets:
Entry $8,150- $8,850
Exit $9,250- $9,950
The past several weeks were very interesting- we have seen the market bottom out around $244B market cap and then stage a small recovery leading up to the end of tax season. Last night through today we have seen a slight correction however with BTC prices dropping over $1,100 in just 12 hours but they quickly rebounded to defend that $9K price point.
Again this is where I stress the importance of cost-averaging and laddering your entry points.
Rather than throwing a large investment into crypto at a given price, put in increasing buy orders as the price goes down. If you aren't great at timing the market, as most investors aren't, then you should look to cost-averaging as a technique to reduce your risk exposure. Divide your investment capital into even parts and then slowly buy over time. For example if you wanted to invest say $1,000 then rather than dropping all of the money at once put $100 per week over 10 weeks. In 2 1/2 months you will have cost averaged your way into a position and reduced your overall volatility and risk.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-4-22-2018
Feeling Salty About Missing The Crypto Boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
Don't Worry:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-hype-cycle-is-finally-here
Fantastic Documentary About Relevant STUFF! (MUST WATCH!!!)
https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary
Like Bitcoin But Want To Avoid The Fees?
https://steemit.com/bitcoin/@hotsauceislethal/save-money-when-sending-crypto
Pay No Transaction Fee From Coinbase!!!
https://steemit.com/bitcoin/@hotsauceislethal/no-transaction-fee-bitcoin-trick-using-coinbase
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
*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.)
Bitcoin por vida!!!!
Keep up the cost averaging man! I just bought $100 worth of Ethereum and gonna buy another $100 or so more this week. Slowly increasing my holdings while HODLING the rest of my portfolio.
I think $8,750 can be a good entry point. Thanks for the analysis and advice man, I really appreciate.
I think we are entering the next big bull run and this is just the very beginning of the mountain's base. In the next 6 months we will see BTC attempt its all-time highs again and then see an absolute MANIA following that.
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Cool man. You must be Hawaiian cuz you love SPAM.