BTC - daily update 2018-07-16

As we coming closer to a very exiting area i like to share my thoughts of a possible bull brake of 6,850 usd resistance. First i wanna say it's no time for FOMO. We are still in a very difficult area with a lot of resistance. For me there is too much risk for a entry in this area. At first, we got a nice spike up and the probability of a spike down (correction) is quiet high. This can end in the 3 different areas mentioned yesterday.

We should be aware of the red dotted path which can end up in a down spike or a big spike up if volume is picking up.

I said earlier that we get more and more bullish signs. So here is how i would enter the marked. How you gonna do is your own decision!

I marked the resistance areas in yellow. I took away some of my previous marks as the chart got to pump up with information. You can still go back to the last post and check it out.

Having in mind the different scenarios, it would be very dangerous for me to enter when we just hit resistance at 6,850. Be aware of a bear wick i will place my buy orders a little above at entry point #1 or a little higher. A more conservative entry would be when backtesting the resistance when we make it support. I would say 90% of the time BTC is going back to make resistance the next support.
The MACD is confirming the new channel with another bounce from support. Having space for another move up but even for a correction down.

If my counting is correct black wave 3 will hit the intermediate black decending resistance. There is a high probability of a coming correction in this area.

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