Bitcoin Price Mini T.A. 5/22/2018
Current Market Cap: $362.67B(-$18.4B in one day) Bitcoin Dominance: 38.2%(+0.6%)
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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 $8,220. High ranges at $8,365 and low ranges at $8,080.
Stochastic RSI indicates oversold conditions (12).
MACD shows we are below the Zero Line and the histogram is negative. Watch for a peak on the histogram before a trend reversal happens. There is more room for downside right now.
Price Targets:
Entry $7,600- $8,050
Exit $8,350- $8,900
Today we saw a re-test of the low $8K support levels. The price has yet to dip below $8K but it is most definitely possible.
It would only take one large sell order to trigger a cascade of stop-loss sell orders. This would result in a domino effect on the price.
What do you think about BTC staying above the $8K zone- will here be a drop below or will we defend it fiercely?
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*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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You’re right here bud. Been agreeing and saying lower for a whole. Need to see some Panic!!
Yes these markets are still very immature and it doesn't take much to move them. Only a few million dollars can shift the price quite dramatically as we have seen today :-X!
Thank you for share (Bitcoin Price Mini T.A. 5/22/2018) very helpful post.
Thank you for stopping by. Are you really a YouTube marketer? I have never seen you around YT.
Thank you for share cypto news | great share for steem users..
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