BITCOIN – Weekly Wrap-up and Long-Term Overview: April 22, 2018
…Key Statement:
The secular trend is struggling like hell to remain bullish. The long-term trend (via the daily and weekly charts) are poised to reverse to the long side of the market come Monday.
This week’s video update touches briefly upon all that surrounds these long-term and secular market dynamics.
| Short-Term | Bias | Target | Sup-1 | Sup-2 | Res-1 | Res-2 |
|---|---|---|---|---|---|---|
| Hourly Chart | Bearish | 7,825 | 8,700 | 8,366 | 9,090 | unknown |
| Medium-Term | Bias | Sup-1 | Sup-2 | Res-1 | Res-2 |
|---|---|---|---|---|---|
| Daily Chart | Bullish | 7,265 | 5920.72 | 9,188.10 | 11,688 |
| Long-Term | Position Bias | Date | Price |
|---|---|---|---|
| Weekly Chart | Short | 3-12-2018 | 9535.04 |
| SECULAR | Bias | Low 2018 | Target 2018 |
|---|---|---|---|
| Monthly Chart | Bullish | 5,920 | 12,235 min / 37,419 max |
…Weekend Update & Review
…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
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 cryptocurrencies. 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.
Most understandable charts that I've seen. Very organised and clear. I appreciate your knowledge. Thank you.
I appreciate that Kevin, thank you!
Since you think Botcoin will be in a bear market later this year. So you have a plan to transition to another crypto asset that is going up? If so, what are coin(s) are thinking about?
It's certainly possible, however, it may also be such that minor wave 3 or minor wave 5 "extend," which would, in turn, extend a prospective bullish run. Bitcoin has been in a bear market for much of this year and is trying at present to reverse back to a bullish posture. As such, it also remains a possibility that the recent bear market may resume this year and extend into next.
I am not well versed on the myriad of alt coins available, however, in general thus far, it appears that bitcoin generally leads the way for many of them. As such, it would be like asking what stocks should I buy that would go up should the broad stock market crash or move into a prolonged bear market... Sure, a hand full of stocks my go generally unscathed and some may even advance within a widespread bear market, however, it is nearly impossible to select which stocks will perform that way under those conditions. I suspect the same would hold true for which coins may buck the larger trends created by the runs in bitcoin.
I hope that helps... Thanks for the question!