Current Market Cap: $138.00B(+$6.32B in one day) Bitcoin Dominance: 51.5%(+0.5%)
*
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 ($3,880). High ranges at $4,100 and low ranges at $3,660.
Stochastic RSI indicates overbought conditions (82).
MACD shows we are above the Zero Line and the histogram has peaked out and is tapering down. This might be a good time to take profits and reset buy orders.
Price Targets:
Entry $3,400- $3,900
Exit $4,000- $4,400
Finally we get some price action movement as BTC jumps nearly 7% in just an hour this morning.
The price quickly tested the resistance at $4,100 before dropping back down. We should see support zones moving up to compensate.
This small market movement might just be enough to shift the sentiment for some traders and signal a bottoming out of the market last October.
Check Out My Last Bitcoin Post:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-mini-t-a-1-5-2019
Feeling Salty About Missing The Crypto Boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
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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It is better to wait again below 3900 to enter for a new trade?
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It really depends on what your position is to begin with I guess. I would recommend setting buy orders starting at or around $3,900 or $3,950 and below. Laddering buy entries as you go down and increasing size of course.
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