Bitcoin Price Mini T.A. 4/22/2018
Current Market Cap: $396.65B(+$16.27B in one day) Bitcoin Dominance: 38.3%(-0.8%)
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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 slightly above the moving average which is around $8,900 right now.
Stochastic RSI indicate normal conditions neither oversold nor overbought (38).
MACD shows we are above the Zero Line with extremely low volatility and volumes right now. Watch for a drop below the ZL which would indicate a fall to the last support levels (~$8,600-$8,700 zone).
Price Targets:
Entry $8,150-$8,850
Exit $9,000- $9,450
Source
Bitcoin's dominance has slowly been falling since the market has bottomed out and since shown some recovery. From a recent low of under $244B total market cap just three weeks ago we have regained over $152B. This apparent influx of new money could be due to several factors but mainly due to renewed investor confidence if you ask me.
Source
Remember that humans are reactionary animals and regardless of intelligence we still make emotional decisions based on fear and greed.
When people think it is safe to start putting money into cryptocurrencies again the market will see another massive surge, and that time could be now... Just remember to ladder your entry points and always use cost-averaging to reduce your risk and volatility. Happy trading!
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-4-21-2018
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
*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 and coinmarketcap.com.)
I think this is by far the best analysis that I've seen from you. The new extra charts are just awesome and give more details. You just confirm with me we haven't reach the time for full bullish mode. Now is all about playing with the market and booking small profits.
Thank you I appreciate that! It normally takes so much time to write a detailed forecast so I stopped writing such long posts. It was taking entirely too long and some days I just didnt have the time or effort to do it. I felt like it was time to do a little more in depth analysis today.
Let's get to $9,450 ...
Last few day BTC on fire.....Hope that BTC continuously grows up and exceed 9,450 in next day....@hotsauceislethal
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good analysis friend 👍 strong hand indeed 👍
Hey I was locked outta my account @geneeverett I lost my password and am forced to start over. Def keep in touch friend👍 I did a few posts on video proving it’s me. It really sucks it’s like totally starting over but it is what it is....
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