General Tone:
We see sideways movement for 24 hours, with BTC inching closer to the trend line channel resistance, and finally breaking. Though we are now confined to another channel resistance, with other major areas of resistances from previous support regions. The Break above $8,400 was expected. I see a MAX target of $8,700 on the high side, with major resistance in the $8,550 region.
Wave 4 correction is near complete and wave 5 correction can soon begun.
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Next Week) - Neutral
Short Term Bias (Today) - Neutral to Bearish
Long Term Target Prediction - Primary Wave 3, $35,000+ by 2019
We saw BTC inched closer to the channel resistance, where it broke out.
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