…BTC Update 3-7-18

Short-Term	Sentiment	Target 1	Low	Supp	Resist
@passion-ground	Bearish	8,717	5,920	9090.80	11,780

Long -Term	Sentiment	Target 2018
@passion-ground	Moderately Bullish	37,419

…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.

…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.

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…Video Update

Select HD and “Full-Screen” for the utmost clarity in viewing this video update.

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