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

in #bitcoin3 years ago (edited)

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.

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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.