A rather impressive 50% run-up to the 9948 level off the April low of 6611 appears complete.
…Key Statement:
If the preferred bullish count is to remain in place, we could go down as low as 7887, which is a .618 (62%) retracement of the entire bullish advance from lows printed on April 9th. Currently, the short-term trend is down, and the 9577 level shall act as a general - albeit “key” upside resistance toward determining if the immediate (short-term) prospects as to whether or not we will see a short-term print high marginally above the recent print high of 9948 will indeed occur shortly, or if further downside consolidation is needed reconcile the recent bullish run higher.
| Short-Term | Bias | Target | Sup-1 | Sup-2 | Res-1 | Res-2 |
|---|---|---|---|---|---|---|
| Hourly Chart | Bearish | 9,091 | 8,366 | 9,576 | 9,949 |
| Medium-Term | Bias | Sup-1 | Sup-2 | Res-1 | Res-2 |
|---|---|---|---|---|---|
| Daily Chart | Bullish | 7,941 | 6,428 | 9,639 | 11,688 |
| Long-Term | Position Bias | Date | Price |
|---|---|---|---|
| Weekly Chart | Long | 4-23-2018 | 8781.70 |
| SECULAR | Bias | Low 2018 | Target 2018 |
|---|---|---|---|
| Monthly Chart | Bearish | 5,920? | 12,235 min / 37,419 max |
…You Can’t Miss with Swiss-Chris!
Otherwise known as @famunger, Chris puts together a daily recap of all the top technical analysts across STEEMIT, and beyond. He does so in order to provide the community at large with the best possible forecasting guidance relative to the price of BITCOIN, and by default, the balance of the crypto-world at large.
In checking out @famunger’s daily recap, you simply can’t miss! His collective assessments of all the select analysts are akin to getting the very best snapshot of what the near and long-term future is likely to hold for those with a vested interest in BITCOIN and the multitude of coins, tokens, and alternative currencies that BITCOIN clearly paves the way for.
…BTC Update
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…Video Update
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I trust that the preceding analysis and proof of work herein are 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
In closing, I’d like to impart the following shout-outs to all of my fellow analysts here on the STEEMIT platform and beyond:
They are in no particular order:
To Tone Vays for his incredible energy in producing a wide variety of valuable content along with his proprietary version of Tom DeMark’s sequential indicator.
To @ew-and-patterns for inspiring me to get back into TA, and for his level of professionalism and balance in sharing his views with the community.
To @lordoftruth for his always awesome graphics and his undeniable commitment to report on his latest sentiments with regard to the price of BTC.
To @philakonesteemit for his honesty and in-depth look at market structure via order-books, short-term trading dynamics, EWT, and the like.
To @haejin, despite the seemingly never-ending flag-wars associated with his account, he nonetheless imparts a measured assessment of BTC market dynamics relative to EWT theory that is worthy of consideration – in spite of anything else that might be going on with regard to the ongoing controversy surrounding “reward pool” dynamics.
DISCLAIMER: This post and all of the analysis contained herein serves general information purposes only. I am not a registered financial adviser. The material in this post does not constitute any trading or investment advice whatsoever. The trend-following strategies explained herein are for example only, and should not be construed as trading or investment advice in any way. The same thing goes for anyone subscribing to the Long-Term Trend Monitor. The subscription simply shares with subscribers what several automated trend-following systems are doing, and that’s all. The bullish and bearish alerts provided therein are for information purposes only, and they are not to be construed as advice to buy or sell. At the time of this writing, the author holds a small position in BITCOIN and several other crypto-currencies. Please conduct your own due diligence, and seek counsel from an accredited financial advisor before making any trading or investment decisions. Should you decide to mirror or copy any investment or trading examples from this or any other related source, the decision to do so is entirely your own - as are the inherent risks involved in doing so. I am not responsible for any of your losses. By reading this post, you acknowledge and accept to never hold me accountable for any financial losses. Thank you.