Technical Analysis on Bitcoin: Quick Update
bitcoin·@workin2005·
0.000 HBDTechnical 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: https://youtu.be/zkeUVdpnpno 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:**  **If you don’t have an account on Binance, I STRONGLY recommend getting one. They’re usually the first to get reputable coins, have excellent security and second to none customer service. You can sign up here free of charge: https://www.binance.com/?ref=16878853** **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/**  --- **Published on** <a href="https://mentormarket.io/"><img src="https://cdn.steemitimages.com/DQmXuk9bWMiPgXdowVfh4JBSGUXMqQkLa1u7ANwzTssgp25/250%20blue%20Overlay%206.png" alt="mentormarket.io" /></a> by [Workin2005](https://mentormarket.io/blog/@workin2005) --- <a href="https://mentormarket.io/legal/termsandconditions"><img src="https://cdn.steemitimages.com/DQmY5feG75MDWS57aX2rSUUa8bhzcZEyb5XKZCHY7FUzmXn/Disclaimer.png" alt="https://mentormarket.io/legal/termsandconditions" /></a>
👍 workin2005, rjet, unitedcrypto, anasboss, navjotsingh, somegaming, yarleni, ubg, mike11, timm, maarnio, fortinbuff, thecrazygm, mitrin, anotherjoe, escapeamericanow, expat, expatembassy, monash, mihadan, biomanu, transcript-junky, redes, grintsch, punjolife, harrybell, dmitriysar, warofcraft, marcostakus, olivier10101, filinpaul, skmrahaman, nawye, septimus, faady92, kortess, cannabiscup, eslavhom000, gank, hakim12, bimboola42, zakludick, frederichs, gabriel11, mike191, sabina10, yougotresteemed, ashikstd, imadha, ultraspace, thethreehugs, mabraper, maykocan, j-traore, rloriaux, zafarishafiq, anaszarrouk, sabina6336, champagne9, rotjaeley, denish1, dillip, mixedmentalarts, gautambnod, sureshnsnet, binagautam33, farin007, pkbasnet, djaay, revan746, basant111, erudire, sabinwrites, tayaba81, bot-az, bikalpa, payelmia, sam.smith, alan369, huggies-cowboy, jjaamaall, emergehealthier, maruf0123, mgibson, dglob, basiruddin1, pradipolee, ankitbabaji, bellien, arjung216, cosmabass, edrivegom, cryptopassion, mr-bike, espressoshot, valorforfreedom, viralasia, steemrewards101, temmy8284, almamun298, molikhatun, shyamoli, riazuddin101, sadiajahan22, shojalnuman, viralreward6, ucanis, neversaynever, cryptocover, alexsund, dipom98, ramanraina19, mrs.roy, y3v63n, almajan, yuvaindian, mnipa, mohiuddinmukul, ihtasham, bolomalin808, judicar, samvan, laughingbudhha, junaidpasha, sjworld, ima98, bargolis, thrinadh, blue.panda, sst, c0ff33a, pacolimited, vander, runicar, deeprabbithole, cryptowarrior88, acesontop, erkander, sisaket, vlemon, gaboski, vasilisapor2, fractal-team, manyasli, hunny100dev, tomatom, vikas23, sazzad7137, backinblackdevil, zafarynl, lilbastard, deepbardhan, farukcom, johnbeauty, mosleh, oddbot, arafatsaikatcse, anikas, allinone7, memesteemit, dear53, afsheel, mrfantastis, drjessemeyer, dilbagpreet, whistleblow, carterx7, votingbastard, kabirbenth, levieuxours, haider143, muchukunda, jadusab, alokkamboj, sarcasticbro, towhidkhondoker, lforbusiness, handicraft, najamsultan, abughaisan83, shivohum2015, plumberr, willsaldeno, wingotb,