Bitcoin Price Mini T.A. 5/30/2018
Current Market Cap: $321.16B(+$16.35B in two days) Bitcoin Dominance: 39.2%(-0.8%)
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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 at $7,425. High ranges at $7,600 and low ranges at $7,250.
Stochastic RSI indicates oversold conditions (21).
MACD shows we are below the Zero Line but the histogram is tapering down. Watch for a sustained fall below the ZL.
Price Targets:
Entry $6,500- $7,300
Exit $7,500- $7,950
FIBONACCI RETRACEMENT:
The market recovery has been choppy as we are still looking for a solid bottom. The prices to mine BTC vary so much from country to country that this will inevitably push out many of the more developed nations, as electricity is typically much more expensive!
The profit parity for a single Bitcoin is around $8,000 USD on average across the board.
Is this price level unsustainable or will we see increased buyer demand as more economic turmoil develops worldwide? Let me know what you think about global economics in a comment down below, and as always - Stay classy :-D!
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-5-28-2018
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
My Latest Series:
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.)
You used to have a list of altcoins to watch. Why no more?
Hrm that's a good question :-D The alt-coin market has been so chaotic I have avoided investing in it for a while. Only alts I like right now are LTC and ETH since they are largely supported by Coinbase- and since they are expanding the most in the US they will be the first exposure for many institutions and people investing into crypto. ETH should be a long term homerun as both a currency and a store of value.
I see, yes my mood now is not into ICOs and new coins anymore. The big 3 coins seem like a good choice
Hi @hotsauceislethal,
At this point, I'm not sure what is going to happen, just going to HODL at this point. Really enjoyed your article and wanted to see if you'd be interested in more profit potential. If so, we are looking for creative talent to join us during our Alpha Test.
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Cheers!
I am totally down! Sounds like an amazing idea :-D
As far as what is going to happen to BTC in the short term- we could certainly drop further below the production cost of around $8K per BTC (on avg) and this will put a lot of the competition out of business.
This in turn will cause market scarcity and this will inevitably drive the prices up again during the next hype cycle. We have a lot of cushion for a further decline, especially considering the over production of tokens which is producing a surplus of supply in the market.
Long term we are still extremely extremely bullish!
Two Thumbs Up
Довольно интересный и полезный для меня меня контент. Биткоин сложен для меня в качестве инвестирования, я предпочитаю ему альткоины
Translation: "Quite interesting and useful for me content. Bitcoin is difficult for me as an investment, I prefer it altkoiny"
Great to have you! Come back any time sir :) Здорово, что ты! Вернуться в любое время сэр
Thank you so much for share bitcoin price mini and everything!