![Screen Shot 2018-06-15 at 6.20.45 PM.png](https://cdn.steemitimages.com/DQmbr6sL1CCknNr63LcQhWD4G9CE1R6p5iKrebioH73BGUj/Screen%20Shot%202018-06-15%20at%206.20.45%20PM.png)

While we’ve seen a welcome rise in price over the last week, the market as a whole remains weak. In todays video analysis, I discuss what obstacles bitcoin needs to clear in order to usher in a longterm bull run. I also discuss possible price movement in the short and longterm, as well as major support/resistance zones to keep an eye on. 
## Video Analysis:
https://youtu.be/FLkOf65e1P8

**Please watch the above video for deeper analysis not included in the screen shots below.**

#### My big picture count remains an overall WXY pattern, with an ABCDE correction to finish the pattern. When looking at the trajectory of the last 3 rallies, we can clearly see the market is weakening. Each rally is moving more sideways than the last. Volume is continuing to drop. The video covers this in much more detail.
![Screen Shot 2018-07-07 at 12.14.22 PM.png](https://cdn.steemitimages.com/DQmaUjTQhpFEgTsspSfjzNE4sqxXmZkMYny9vszNiYQD4qe/Screen%20Shot%202018-07-07%20at%2012.14.22%20PM.png)

#### Bitcoin is operating within a wedge. I’d expect a break to the up, or down side in the next 24 hours. Indicators are fairly neutral, There’s no clear indication on which direction Bitcoin will break in the short term. 
#### If it breaks up, I believe it’ll more than likely bounce of the resistance zone between $6,750-$6,800. 
#### A break down will likely find support between $6,145-$6070 as shown below. There’s a good chance bitcoin will consolidate between these 2 support and resistance zones for a few days. 
![Screen Shot 2018-07-07 at 12.36.01 PM.png](https://cdn.steemitimages.com/DQmW4Nww46r28LGPtsr1vfbNtpUEWtFmQg8AQi1aq7QkKXe/Screen%20Shot%202018-07-07%20at%2012.36.01%20PM.png)

#### The 4 hour RSI still has the ascending support line in tact. If price breaks down, I’d expect a bounce off the support. If the support breaks, I’d expect bitcoin to drop to the $6,145-$6,070 support zone outlined above.
![Screen Shot 2018-07-07 at 12.37.55 PM.png](https://cdn.steemitimages.com/DQmRNZkSowayLmX4Rj9qkEuBUdaRtrLP8J56UurtbwmCVeK/Screen%20Shot%202018-07-07%20at%2012.37.55%20PM.png)

#### Scenario 1 has bitcoin on wave B of an ABC correction. 
![Screen Shot 2018-07-07 at 12.21.11 PM.png](https://cdn.steemitimages.com/DQmRaYpg4CJGYSyz83vzSue2AAuVGi452QwFVGfRCkxZZVx/Screen%20Shot%202018-07-07%20at%2012.21.11%20PM.png)

#### Scenario 2 has bitcoin in an expanded flat, with wave C looking for bottom. 
![Screen Shot 2018-07-07 at 12.22.22 PM.png](https://cdn.steemitimages.com/DQmNVfGKJPfuhhNotRQhRwWtTsv3rfKyAdA8mE57yeYehtm/Screen%20Shot%202018-07-07%20at%2012.22.22%20PM.png)

Please watch the video for much more information. 

**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. Until next time, wishing you safe and profitable trading!**
## *Workin*

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