Bitcoin BTC - March 16 Morning Update - Breaks out of Channel, But Hits Resistance Fast
General Tone:
We see sideways movement for 24 hours, with BTC inching closer to the trend line channel resistance, and finally breaking. Though we are now confined to another channel resistance, with other major areas of resistances from previous support regions. The Break above $8,400 was expected. I see a MAX target of $8,700 on the high side, with major resistance in the $8,550 region.
Wave 4 correction is near complete and wave 5 correction can soon begun.
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
We saw BTC inched closer to the channel resistance, where it broke out.
How could this have been played?
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Upvoted first before watching it! Because I know my Asian bro will have good content as always!
First thing I do when I see your posts is to upvote 🙌
First time posting a commment. Been learning from you quite a bit - Actually, all i know about TA came from your valuable lessons. Upvote before watching - why? You put in your time and work for us, that needs recognition. You deserve a medal or a holiday named after you!
Excellent TA, thank you ~
you are literally the best my friend
Thank you for the time and energy you put forth Philakone...much love to you and Luna
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Nice work !
I don't mind if we hit a little resistance with this wave...I am however looking forward to the next few months! Thanks for the post and info! I continue to learn from your posts and also your Twitter. Respect.