Bitcoin Price Mini T.A. 5/6/2018

in #bitcoin6 years ago

Current Market Cap: $452.3B(-$14.71B in one day) Bitcoin Dominance: 36%(no change)

BTCprice05062018.jpg

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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 just below the moving average which is around $9,600. High ranges of $9,900 and low ranges of $9,330.

Stochastic RSI indicates we are slightly overbought (78).

MACD shows we are below the Zero Line and the moving averages have just crossed over. Normally a bullish sign, however we will need to break past the ZL once again and see an increase on the histogram for confirmation.

BTCbuysellzones05062018.jpg

Price Targets:

Entry $8,600- $9,450

Exit $9,750- $10,400

Overnight we saw a minor correction which sent BTC prices under $9,400 erasing the previous day's gains. These kinds of corrections are natural and healthy. They will shake out the weaker hands and only strengthen the strong ones. Once we can break past the major psychological barrier of $10,000 we will see a much stronger rally in prices.

Can we sustain this momentum that we have been seeing or will BTC fall victim to another manipulation by the whales and mass media?

Weather the storm and you will be greatly rewarded. Bitcoin is here to stay and nothing will stop it.

Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-5-5-2018

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https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out

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https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary

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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.)

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