Bitcoin May 24 Morning Update Technical Analysis - Supports, Resistances. Bullish? Bearish? Mixed Signals

in #bitcoin3 years ago (edited)



General Tone:
On the bullish find, we'll find confluent support at the 0.786 fib region on a small degree, the 0.65 fib region on a very large degree, and the major trend line support established since November, which is between the $7,000-$7,300 range.
On the bearish side, we'll break through $7,000 and test $6,500. Where is $6,500 doesn't fail, we may see $5,000 ranges.
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Next Week) - Neutral
Short Term Bias (Today) - Neutral
Long Term Target Prediction by 2019 - $35,000(ATH)

Bullish View




Bearish View


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Thanks for the update! Great analysis! I look forward to starting to watch your tutorials this weekend

Upvoted and resteemed to support your content. Thanks Phil!

I' ve (more or less) started in the crypto space in late 2016, watched all your videos (which were for free at that time) and after purchasing your course and watching the first 2 lessons, I can say that I will learn a lot out of it.
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Same here. Bought the course, few hours later while watching it, made some money off LTC which basically paid for it. So yeah, worth every dollar. I cannot wait for the EW course. Then again, Phil goes over it every now and then in his TA update videos and live streams.

BTC D.png
If we don't hold at this level we could be seeing a drop towards $3,000. Weekly showing a potential double bottom formation @ $7,000
Keep up the great work :)

How long you guys needed to understand the basics?
I watch every single Philakone Videos/Stream but cant catch up with what he´s doing yet, :D

I try to understand where´s a good zone to buy for a bearish market and thats all for now.

Upvoted and resteemed! Thanks Phil!

Thanks for the content!

Philakone decided to put their excellent videos private, I found a payhip page that is offering the tutorials.

He told that all the money that he gets will go to the crypto adress of Philakone, I have contacted him by mail and he sent me the evidence.

I think that is a win-win, here´s the link.
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Just started watching not too long ago, already learning so much! My biggest take away was the .786 and .65 fib range. Can't wait to learn more!

Phill, what do you think LTCEUR
https://www.tradingview.com/chart/G73sV1nb/

Please comment on LTC in the next show :)