Bitcoin March 17 Technical Analysis Evening Update - Detailed Elliot Wave Analysis
General Tone:
We have hit target of $7,550 and have bounced thus far nicely to the $7,700 region. It's possible to see $7,200 still. We see a death cross (50 and 100 moving average cross over), which signals a very bearish market to come.
If $7,200-$7,600 range is indeed support and ABC is finished, we will then attempt an impulse wave up, which can fail if any impulse wave OR ABC of the 1-5 impulse wave retraces 100% of the structure.
A break above $8,050 validates the bullish count and ABC is finished.
A break below $7,530 validates the bearish count to $7,250 range.
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Next Week) - Neutral
Short Term Bias (Today) - Neutral to Bearish
Long Term Target Prediction - Primary Wave 3, $35,000+ by 2019
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It's sad to see that out of 3003(currently) views on this post, there are only 162(currently) votes. How hard it is to hit that f#ck!ng vote button. All this knowledge for free and no consideration...really guys? HIT THAT BLOODY Button till you make a hole in the screen...That's the least we can do...
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Very detailed post. 3x upvoting :D
Thanks Philakone!
Please, a couple of words about xrp, eth next time :) I understand that most people trade btc...but other top altcoins are also important. But if you have not time for that, let it be...Than's a lot for what you are doing!
Here's some words about XRP and ETH: They're super cheap and will go up a lot, so buy some now.
Ok, philakonesteemit.. I follow you on twitter and have seen your YouTube channel. Upvoting this post. Check me out for some Cryptonews! https://steemit.com/@cryptobtcchris Also, started following you on Steemit! Keep up the great work!
Thanks very much
Nice one Phila. I think it's great you take the time for your viewers and yourself to write everything down. I imagine this will highly improve not only your viewers skills but yours especially. keep up the good work.
Love your shit man!! Hey are you planning on doing any more risk management material?
Thank you Philakone. You are making a difference and becoming a legend.
Thanks Philakone.