BTC Bitcoin May 31 Morning Update Technical Analysis - Supports, Resistances, Specific Setups

in bitcoin •  7 months ago

General Tone:
A bounce at the $7,000 level was much expected due to hitting a major trend line support established since Nov 11, 2017.
Bullish View, if we break the $7,650 range, there's a chance to hit $7,850 to $8K range(0.5 to 0.618 fib retracement)
Bearish View, if we break $7,161 range, we'll most likely test $7,040, which I see as failing to hold and then testing $6,500.
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)

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Thanks for today’s update. Some good analysis in here

Thanks phil. Making some money following your TA, i am using $5000 from credit card and have target to pay my study and car loan of $55000 this year.


Please don't borrow money to trade. You can never be certain if you will win.

Thank you sir!

Thanks Phil

Can you do TA for EOS or other cryptos???

I appreciate the consistency with which you produce quality content. Just posted today's Bitcoin Technical Analysis ANALYSTS DAILY SUMMARY.
Go check it out and give us an upvote, resteem, follow please.