Technical Analysis on Bitcoin: Quick Update
Bitcoin just broke down and out of a small rising wedge. I expect some short term consolidation before either a larger move up to test the $6,750 resistance, or drop to test the $6,450 support. In today’s video I discuss what to expect over the next 12-24 hours, as well as a few longer term scenarios.
Video Analysis:
Please watch the above video for much more detail not found in the screen shots below.
Break down and out of rising wedge. Consolidating before next move.
Scenario 1 has bitcoin continuing up to finish the 3rd wave. More than likely it'll find resistance between $6,750-$6,800. From there I’d expect wave 4 to begin.
Scenario 2 has bitcoin in a leading diagonal. This is often found in the first primary wave after a trend change. Wave 4 is allowed to overlap wave 1 in this instance. If this is infact the count, I’d expect BTC to begin an ABC correction as shown below.
As stated, please watch the video for much more detail.
BIAS:
Short Term: Neutral
Longterm: Very Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Thanks for stopping by.
If you found this post informative, please:
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FYI…I just started a Facebook and twitter page where I’ll post analysis, along with other relevant crypto data from myself and others. If you’d like to be notified as soon as updates reach Steemit, the twitter handle is @Workin2005 and the Facebook page is https://www.facebook.com/Workin2005/
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by Workin2005
Excellent! Also, I have some good news. Since you are now posting consistently I have brewed up some of my "marketing magic" and have devised a sequence of SEVERAL tasks by which to integrate your content into my larger effort here on Steemit (and Twitter). I will be rolling these tasks out, one by one, in the coming days to demonstrate the process. The first of these tasks I have initiated after consuming this post is as follows :
(1) Tweeted out this Steemit post (with your Twitter handle mention) :
https://twitter.com/BitcoinsNGravy/status/1014334850688376832
(2) Tweeted out the YouTube video in this post (as a seperate post, where the YouTube video plays right in the tweet) :
https://twitter.com/BitcoinsNGravy/status/1014336668764069888
This is "Step #1" in a larger process, which I intend to be ongoing. If you can ReTweets these tweets I have mentioned you in it would be ideal, as that would help BOTH of our efforts. But please do not feel pressured to do so.
The next step (which I will roll out within 24 hours) is to include the two above posts into my next "Trending Bitcoin News" post from @bitcoinsandgravy. The plan is to include your regular Bitcoin analysis posts as a REGULAR component of that series. I will post the link to that once it is up.
I have additional task ideas which I will roll out in a methodical manner. Feel free to let me know your thoughts...
Thank you @transcript-junky. I’m honored you’d want to share my content. I’m still not as active as I’d like to be on twitter, but getting better. Looks like you’re promoting some great content. I just retweeted a few of your other posts. Thanks again for the support my friend!
Great! It's MUTUALLY BENEFICIAL (and beneficial to the whole Steemit community) for me to EMBELLISH my cryptonews posts with your quality (and consistent) updates. This afternoon I followed through with the SECOND step of the process, and added one of your most recent Bitcoin analysis video posts (ALONG with the accompanying YouTube video - embedded right into the post) to the new "Trending Bitcoin News" series post I made today : https://steemit.com/bitcoin/@bitcoinsandgravy/trending-bitcoin-news-25-july-4th-2018 I then thought of the additional step of adding your most recent Steemit video analysis post to next week's "Trending Blockchain Social Media New" series post (I will update you on that when I publish it). Since it appears that you will be putting out AT LEAST one Bitcoin and on Steemit analysis post per week, that is enough for me to include you in my series. the next step after that will be to showcase one of your posts in my the next installment of my "Steemit-Twitter Marketing Campaign" series posts (weekly). These various posts (and their accompanying tweets) will surely be valuable to the whole community. Stay tuned...
Sounds great my friend. Keep me updated.
Bitcoin is future... No matter where it stand today