Bitcoin Price Mini T.A. 7/20/2018
Current Market Cap: $276.32B(-$17.54B in 3 days) Bitcoin Dominance: 45.7%(+2.8%)
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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 just below the moving average right now ($7,415). High ranges at $7,535 and low ranges at $7,300.
Stochastic RSI indicates oversold conditions (23).
MACD shows we are below the Zero Line but the histogram is tapering upwards. The support seems to be defending that $7,300 zone quite strongly
Price Targets:
Entry $6,200- $7,300
Exit $7,550- $8,200
The market has been taking quite a beating since Bitcoin started to rise. The Bitcoin dominance is increasing rapidly which means alt-coins are selling off as BTC shows strength and as people anticipate the possible launch of a BTC ETF.
Alt-coins got a sudden boost from the BTC price jump and consequently dumped as people took profits this week. At first the portfolio boost was nice but it was mainly from Bitcoin's quick movement.
It will be interesting to see what the decision on this latest round of ETF applications will yield. The SEC is still walking on eggshells with this whole cryptocurrency space.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-7-17-2018
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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/bitcoin-s-increasing-dominance-and-shrinking-market-cap
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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.)
How do you think @hotsauceislethal what will happen next?