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RE: BITCOIN – Weekly Wrap-up and Long-Term Overview: March 18, 2018
i see your short term res1 & res2 targets were breached, tho by not much for res2 (and only briefly) does this change anything for you in the short term? you think a consolidation around the low 8ks then move to low 9ks in the books here within a few days? thx
Thanks for the question! Resistance and support levels are not targets per se, they are simply levels of short-term support and resistance - meaning that if the market reaches these levels there is a chance they may find support from falling too much further or resistance in rising too much above. Support and resistance levels are dynamic, meaning that they are broken in due course, especially so on intraday charts.
I hope that helped. I'll be doing another update this evening to note any and all changes. Thanks again!
yep my wording of 'target' was wrong, i am aware of the difference. thanks for the reply!