Regular daily update on BTC ta analysts opinions.
**My summary - short-term sentiment: bearish ** (last: bearish)
Moved down - may be the beginning of a correction.
Two major pathways are seen: either turning from 8'900 area towards 9'300 bouncing within triangle or we correct in waves towards 8'600 - 8'400 (even 8'000 - 7'500 @lordoftruth).
April was good month for crypto. June is usually also a good month - not as good as April though. Lets see.
News about the blog
I need to revise my 2018 long term table. I need to add a 2018 and 2019 target an be more precise on the sentiment here. Will do that after I am back in Switzerland.
We lunched the bounty project beta. If you are interested and you like to create a bounty on your own have a look at this post
Analysts key statements:
Tone:
- Weekly: Closed near top of prior weeks candle which is very bullish. Week started a bit below which is still ok. Still he sees the bulls need to be cautious. Buying the breakout is the safe way to go. The safest would be buying breakout over 20'000 but he thinks breaking out over 12'000 is a good enough signal. He hopes for a pullback to 7'600 and bounce off the 50 MA and the trend line which would give a strong support to the upside. He is neutral to bearish on the weekly.
- Daily: We are in a no trade zone. He would tighten his range. We will see what happens with the 200 + 128 MA - it will give us a death cross.
@haejin:
Bitcoin (BTC) has broken the bottom white line of the flag pattern. He sees a repetition of the fractal as very possible. The pathway is charted below.
Alternate count:
@ew-and-patterns:
Bitcoin is moving down as expected. The following two pathways will apply:
A:
B:
@lordoftruth:
Outlook stays unchanged; April high 9'767 - correction ahead towards 7'500 - 8'000 (early May) to build iSHS pattern. than move towards 12'400 (5/8 reaction form 6'490). So the pullback is considered a buying opportunity.
Clear breaking of 9'911 will invalid current scenario.
Todays trend is slightly bearish. Expected trading for today is between 8'350 and 9'767.
@philakonesteemit:
Bullish scenario got confirmed. Possible further small wave up to come. See bull/bear scenarios below.
@passion-ground:
The upward trend in BTC, albeit tempered in comparison to past run-up north of 11k, is nonetheless bullish in his view. He expects a correction towards 8'366 before moving up.
Summary of targets/support/resistance
Reference table
| analyst | latest content date | link to content for details |
|---|---|---|
| Tone Vays | 30. Apr | here |
| @haejin | 1. May | here |
| @ew-and-patterns | 1. May | here |
| @lordoftruth | 1. May | here |
| @philakonesteemit | 24. Apr | here |
| @passion-ground | 30. Apr | here |
Definition
- 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)
- 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.
- bottom = -> now renamed and moved to long term table. Low 2018
- low/top 2018 = what is the low or the top expected for 2018?
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.