Bitcoin BTC - Live Stream March 17 - Target $8,300 Acquired. Then Massive Drop. What's Next?

[philakonesteemit]

General Tone:
We nailed $8,300 range target as a bounce, and are now still on pace to hit roughly $7250-$7650 range.
I projected a bounce at $7,930 as support 1, which failed to hold. We trend to $7850 as a support and bounce.
Target is roughly $8,041 to $8,102, at the channel resistance.
Is now a good time to enter a long trade? No. Not at all. No support has been established. R:R setups aren't favorable. Must exercise extreme caution and patience.
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Next Week in 5-7 days) - Bullish
Short Term Bias (Today and Tomorrow) - Neutral to Bearish
Long Term Target Prediction - Primary Wave 3, $35,000+ by 2019

This was posted yesterday

We see it bouncing heavily off the $7,928 price, missing the mark by $2 (woohoo). What next? The very bearish scenario, is we trend in the channel, while also hitting resistance, confirming a descending triangle, and we break $7,930 range. Keep this $7,930 price a key price. If we break it, expect a free fall to $7,650 range. A break outside of the channel could hit 8350

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Comments

[kamer]

Your targets are right on point man love ya

[nemrod]

Thanks Phil for all of the lessons! I have one question: Is the 7930 really end of wave 5? Could it be wave 3 end, with wave 5 ending on the 7850? 7850 is around 0.78 ratracement from 7660-8600. If no then why not?

[philakonesteemit]

i could be counting it entirely wrong. you're right :)

[nemrod]

Well you taught me to be carefull and to count by myself. All I see in charts is thanks to you!

[philakonesteemit]

gave you a shoutout on twitter. wasn't sure who you were. i always appreciate great criticism. must love

[dailytop10open]

Hey!

I like your post, I will follow !

Useful information about the day opening price, For all current and future readers.

Today's date 17/03/2018:
Bitcoin: 8509$
Ethereum: 612$
Ripple: 0,70$
Bitcoin Cash: 998$
Litecoin: 168$
NEO: 66$
Cardano: 0,18$
Stellar: 0,24$
EOS: 5,2$
Monero: 220$

Have a good day everyone!

[pacxiu]

Thanks again for awesome analysis mate!

[sedaturec]

thanks for the analysis, learning a lot from you

[athant]

Upvoted as deserved! Thank you

[philakonesteemit]

thank you kindly.