Bitcoin Price Mini T.A. 5/24/2018
Current Market Cap: $335.50B(+$8.89B in one day) Bitcoin Dominance: 38.4%(-1.0%)
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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 right around the moving average which is $7,530. High ranges at $7,730 and low ranges at $7,330.
Stochastic RSI indicates slightly overbought conditions (85).
MACD shows we are below the Zero Line and the histogram is positive but tapering down. If the moving averages are unable to break above the ZL expect the support zone to drop further and re-test $7,300 again.
Price Targets:
Entry $6,500- $7,550
Exit $7,700- $8,600
With serious news coming from every angle this week Bitcoin has taken quite a beating. The latest news is that the Department of Justice (DOJ) is openly investigating allegations of Bitcoin price manipulation. The Commodities and Futures Trading Commission (CFTC) has very valid concerns over this as the futures markets are potentially a very dramatic effect of the fintech industry's development.
Will we see more panic selling over the next day as investors scramble to cover their bases?
I'm in it for the long haul so the price is irrelevant short-term to me. What are your thoughts, concerns and dreams for Bitcoin and cryptocurrency as a whole?
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-5-23-2018
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https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
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https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-hype-cycle-is-finally-here
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https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary
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https://steemit.com/bitcoin/@hotsauceislethal/what-kind-of-crypto-trader-are-you
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https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-increasing-dominance-and-shrinking-market-cap
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https://steemit.com/bitcoin/@hotsauceislethal/crypto-for-noobs-1-when-to-buy
*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.)
Yes, I see a lot of panic selling going on. It seems panic selling is the new trend now but I believe these sellers will regret shortly.
Noobs I tell ya, a bunch of noobs!
Bitcoin is the future. Believe it or not!
i like your optimizm! :D
I believe that also.
Thx for another informative post. Easy to read.
Please continue up with creating interesting content - it may be hard at the beginning to build reach and solid followers base.
Steemits needs solid content builders so just dont ever give up! :)
Already followed and upvoted :) Cheers,