BTC – Short-Term Update, Sentiment, & Key Statement
…BTC Update 3-7-18
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Short-Term | Sentiment | Target 1 | Low | Supp | Resist |
---|---|---|---|---|---|
@passion-ground | Bearish | 8,717 | 5,920 | 9090.80 | 11,780 |
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Long -Term | Sentiment | Target 2018 |
---|---|---|
@passion-ground | Moderately Bullish | 37,419 |
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…Key Statement:
The fact that the market rendered a “failed” or “truncated” 5th as it recently attempted to best the recent highs of 11,780, in concert with the bearish news of the crackdown on crypto exchanges by the SEC has turned the short-term trend decidedly down.
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…General Note:
Due to a recent dispute with TradeStation over platform fees, I have canceled my account there, and as a result, after 15-years of continuous coverage, I have discontinued my short-term daily market service.
As such, I now have at least one hour a day to repurpose my time and charting skills, and where better a place to do that other than here on Steemit. So from now on, you’ll likely see a lot more market updates concerning BTC. With that said, let’s get on with it, shall we?
…Summary
So prior to the bearish news that the SEC is starting to come down hard on crypto exchanges, the market was getting a bit heavy anyway as it was unable to manifest a 5-wave impulsive advance at the Minute degree off the 5,920 low.
The minute 3 wave got as high as 11,780, however, the 5th wave up truncated or “failed” to make a new high above wave 3, and was capped off early with a high of only 11,688.
Right-click image and open in new tab to view full size.
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…Video Update
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Select HD and “Full-Screen” for the utmost clarity in viewing this video update.
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I trust that the preceding analysis was generally objective, explicitly actionable and informative, and of relative and meaningful value for all those who perceive such analysis as a backstop to their individual ends.
Until next time,
Peace, Love, and Justice for All
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Great video and analysis! one of my new favorite, I don't know if its intentional, but your video was only able to be viewed from the link on steemit. I have you on my notified list on youtube, but was not notified. Also if I look at your youtube channel's video's it shows that you have none. Thought I would share. Look forward to the next one!
Thanks for all that good feedback @acorwin! I'm guessing that the YouTube notification issue may surround the fact that I'm listing these video's "valid for only those who have the link" vs. "public." But I'll check into it further to see if I can set it such that YouTube notifies everyone when a new video has been produced. Thanks again, brother!
Also loved seeing your long term chart, added a few ideas to mine :)
Haven’t had a chance to watch the video yet, but is it possible we are still working on wave iv of an impulse up as your previous count, ie rather than a truncated v, v has not started yet?
As long as price does not break $9080 I mean.
Yes, even though it's not so visually appealing. I do mention such a prospect in the video. Thanks for the comment and question, @cannonball6.
The statistics were made by you? Good job what you did.
Thanks!