Bitcoin Price Mini T.A. 7/21/2018

in #bitcoin6 years ago

Current Market Cap: $283.43B(+$7.11B in one day) Bitcoin Dominance: 45%(-0.7%)

BTCprice07212018.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 above the moving average right now ($7,340). High ranges at $7,445 and low ranges at $7,240.

Stochastic RSI indicates highly overbought conditions (99).

MACD shows we are just above the Zero Line and the histogram is tapering down. We need increased buy volumes to sustain this momentum otherwise we will test the $7,250-$7,300 support levels again.

BTCbuysellzones07212018.jpg

Price Targets:

Entry $6,000- $7,350

Exit $7,450- $8,400

Over the past day we have seen some recovery in the alt-coin markets as the sharp decline attracted some retail investors. The market is still waiting on some more clarity on the ETF proposals and possible new futures markets that have been in discussion.

Every day there are new developments and the space is evolving at quite a rapid pace.

The strong buyer support in the low $7K zone is actually great news since it appears we are setting up for a much larger move in the near future.

Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-7-20-2018

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

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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,

How do you know what news or info to read and believe to help one to make a good sound decision when comes to investing or trading in BTC?

You mentioned that it was exhausting to keep up with all that is going on.

I have the Blockfolio app where it condenses all crypto news into their news feed so I can go to one place and see all of the articles from CoinTelegraph and CoinDesk. I also use my google feed daily which gives me all sorts of crypto articles from other sources across the web.

Putting all of the pieces of the puzzle together is probably the hardest part since there is always new information coming out on a daily basis and things can really turn on a dime.

Overall we know the general trend will be bullish for crypto but the real question is which projects will flourish and which will fall by the wayside. It is a safe bet that Bitcoin, Ethereum and Litecoin are here to stay as they have cemented their roles in the crypto community.

Thanks for more valued info.

Even though you say you're not a financial advisor, to me, your analysis seems very sensible. Thanks for this article. (My vote for you).Money.jpg

Thank you sir :-D I am always trying to stay on top of the market but it gets very exhausting after a while since there is always so much going on!

@hotsauceislethal, I do not understand anything written

Google translate?

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