Bitcoin Price Mini T.A. 7/17/2018

in #bitcoin6 years ago (edited)

Current Market Cap: $293.86B(+$23.4B in one day) Bitcoin Dominance: 42.9%(+0.5%)

BTCprice07172018.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 way above the moving average which is at $6,900. High ranges at $7,440 and low ranges at $6,340.

Stochastic RSI indicates we are overbought (89).

MACD shows that both moving averages are well above the Zero Line and in a favorable position, although the histogram is tapering down- indicating a slowing of pace.

BTCbuysellzones07172018.jpg

Price Targets:

Entry $5,950- $7,000

Exit $7,150- $8,100

Even as I created the images for this post the price started to drop slightly. We have been bouncing between $7,400 and $7,300 for a few hours as new support zones are being tested. We are clearly overbought as the past two days saw a nearly 15% increase in BTC markets.

Alt-coin markets have been surging in response as more people begin to re-enter and diversify their portfolios again. With so many new developments in this space and the expansion of companies like CoinbasePro there will inevitably be a massive surge of capital back into crypto over the next 18 months or so.

This money will come in bursts as we have seen today. The FOMO is real people so make sure to buy based on fundamentals and not on emotion. I have seen a huge increase in interest from people who were previously curious but unsure of how to get invested.

I suggest reading my article on FOMO below so you can understand how to battle those fears and doubts.

Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-7-16-2018

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
https://steemit.com/bitcoin/@hotsauceislethal/crypto-for-noobs-2-when-to-sell

*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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Hi @hotsauceislethal, its been while, hope you're doing great.

Its great that the FOMO is real, this bull took me by surprise. Hope we see some resistance and bounce back to maybe higher than $7,500.

Have a nice day buddy.

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