Regular daily update on BTC ta analysts opinions.
**My summary - short-term sentiment: bearish ** (last: bloodbath )
Bearish scenario (preferred):
We broke next support level.
Next levels to watch are 6'425( April 1st low) - 6'000 (Feb 5th los).
Seems much more unlikely now - we need to see a significant rally up to confirm any momentum to the upside.
Some bullish divergence on the momentum indicators though (RSI etc.).
- @haejin: He is posting bitcoin only on bitcoin live anymore. I am trying to reach out to him to see if we can have an abstract here.
- Lets see how June plays out -usually also a bullish month. Are we going to see a compensation of May with a huge rally up?
News about the blog
I revised my tables. Now the sentiment is split in 4 sentiments. Sentiments are based on the candle charts timeframe. So 4hr charts, daily, weekly, monthly chart sentiments are up. I haven't gathered all information from all analysts yet but will do that over time. I hope you find that additional precision useful.
To let the steemit community about this I will use promoting bots for this post.
Analysts key statements:
- Weekly: It is very similar to August 2018. He expects current candle the least volatile week. The biggest difference is the cross over of the MAs 7, 30, 50. He expects a drop next week. Expects low of around 5'000 in 1st half of July.
- Daily: He expecting BTC to go to 7'000 before dropping. But it turned around early. We are on 4 of 9. If we break 6'600 before coming back to 7'000 bitcoin is even weaker.
@haejin is moving his analysis to bitcoin live. Those of you who want to follow him directly should look into subscription. I will try to get in contact to see if I can use an abstract to post here also in the future.
Bitcoin (BTC) Short Term Update: The blue circle shows a potential pricepathway of BTC. The purple waves have been updated and it shows a scenario where purple 1,2,3 could be complete and 4 is getting its final touches. Purple 5 is still targeting the 6'300 zone or so.
-Emergency update from his holidays:
Not a triangle - it's an ABC. The break out suggests a drop to 3'300 is going to happen. The low is expected in early August! Next chart update on 14.6.
He will be gone for holidays starting on the 07.06.18 until 14.06.18.
At press time, bitcoin price settles around 6'600 and resumes its negative trading gradually towards our third target at 5'878, supported by negative pressure formed by EMA50 and Stochastic.
As all bBarriers were crushed, market probably will gravitate to 5'878, and the chances is valid to achieve more decline, as sellers continue with their drive towards major support at 4'267.
Our Bearish Overview remain valid as long as the price below 7'210 and only breaching 7'210 can stop our expected decline towards major support 4'267 to build our expected Butterfly "Buy". The potential bullish reversal location.
Todays trend is bearish. Trading between 6'200 and 7'150.
A bounce at the 7'000 level was much expected due to hitting a major trend line support established since Nov 11, 2017.
Bullish View, if we break the 7'650 range, there's a chance to hit 7'850 to 8'000 range (0.5 to 0.618 fib retracement)
Bearish View, if we break 7'161 range, we'll most likely test 7'040, which I see as failing to hold and then testing 6'500.
We may be at or near a short-term pivot low in response to the recent “bloodbath.” Although lower lows are quite plausible and anticipated, it is equally possible that a short-term pivot low is already in place.
Summary of targets/support/resistance
|analyst||latest content date||link to content for details|
|Tone Vays||12. June||here|
- light blue highlighted = all content that changed since last update.
- sentiment = how in general the analysts see the current situation (bearish = lower prices more likely / bullish = higher prices more likely). The sentiment is based on 4hr, daily, weekly, monthly candle charts.
- target = the next (short term) price target an analysts mentions. This might be next day or in a few days. It might be that an analyst is bullish but sees a short term pull-back so giving nevertheless a lower (short term) target.
- support/res(istance) = Most significant support or resistances mentioned by the analysts. If those are breached a significant move to the upside or downside is expected.
Further links for educational purposes:
- From @ToneVays: Learning trading
- From @philakonecrypto: Like in every post you find links to his amazing educational videos. For example here
- From @lordoftruth: Fibonacci Retracement
- From @haejin: Elliott Wave Counting Tutorial
*If you like me to add other analysts or add information please let me know in the comments.