Bitcoin Price Mini T.A. 5/5/2018
Current Market Cap: $467.01B(+$14.31B in one day) Bitcoin Dominance: 36%(-0.3%)
*
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 right now which is at $9,830. High ranges around $9,920 and low ranges around $9,730.
Stochastic RSI indicates extremely oversold conditions (0).
MACD shows we are above the Zero Line with a negative histogram. The moving averages have just crossed over which is normally a bearish sign but watch for a drop below the ZL for confirmation.
Price Targets:
Entry $8,800- $9,700
Exit $9,950- $10,550
Just as predicted the market is showing more and more strength during this recovery. We are going to be back at half a trillion market cap in no time which is absolutely amazing considering one year ago we were only at $45B combined market cap.
Can we break past the $10K zone now or will we see another massive sell-off to shake out the weak hands yet again?
Post a comment down below letting me know what you think and you will receive an upvote!
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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.)
the market is getting exciting again
I know right? The thing that I like is we seem to be setting up some really nice support levels that haven't broken down yet. The portfolio is steadily climbing this month as a result :-D!
BTC has been threatening to break the 10k mark for days now but to no avail. I think we might have to wait till next week.
It represents a very large psychological barrier. I knew we would see a correction by today- just had that feeling. Also look at the retracement levels :-D We dipped down to $9,390 but right now we are looking good for a price reversal. The MACD just reversed trend and we should see an attempt at the moving average ($9,600) again before any further drops...
three best tool good dear very nice post......
Verry good
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