Regular daily update on BTC ta analysts opinions.
My summary - short-term sentiment: slightly bearish (last: slightly bearish)
- Happy Easter to all
- We are consolidating around the 7'000 area.
- There is still a lot of hope that 6'000 low will hold and we are close to a reversal.
- Tone is at the moment the only one seeing us going below the last low.
- It will be interesting what Monday price action will bring.
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.
I am traveling at the moment. Expect the timing of the overview to vary in that time frame.
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: Bounced of the 50 weekly MA which was expected. Chart remains bearish unless we bounce above 7'600 - shorter body than the wick - it is fully bearish for next week.
- Daily: Yesterday's candle had lot of volume - it is not considered a reversal candle. To get bullish momentum we need to trade today above 7'270. We are on a 8 of 9 - so he is watching how the 9 tomorrow will form. We had the death cross today which signals a bearish future.
:
He sees 3 fractals with a fourth one to come. Therefore price target is 8'000 than consolidating in waves into the apex of his triangle.
That the wedge pattern size of those fractals are decreasing he sees as a sign that sellers population is decreasing. He sees that 4th fractal to perfectly fit to the MACD patterns.
The bigger picture still holds with a W to form.
:
He sees a short term Zig Zag EW pattern forming. If we see lot of upward movement than it could be also wave 3 (yellow). but he warns - this seems to be the calm before the storm. Either we drop to a market cap of 130B or if that is wave 3 the next month are going to be great again.
:
He sees bearish trend domination until 8'280 followed by 8'640 is breached.
He doesn't see scenarios of 1-5'000 and expects the low of 2018 5'947 to hold.
BTC futures settled at 7'100 - so the weekend price won't diverge from that too much over the weekend. Future on Monday will be interesting to watch.
Todays trend is slightly bearish. Expected trading for today is between 6'500 and 7'490.
:
BTC test major trend line support which is established for month now. The range of 7'500 - 7'700 needs to hold. If we break below he is expecting us to retest 6'000. If support holds he sees a rally up.
:
BTC remains under pressure. He remains bearish and would like to see a new marginal low beneath standing 5'920.
Summary of targets/support/resistance
Reference table
| analyst | latest content date | link to content for details |
|---|---|---|
| Tone Vays | 31. Mar | here |
| @haejin | 1. Apr | here |
| @ew-and-patterns | 27. Mar | here |
| @lordoftruth | 1. Apr | here |
| @philakonesteemit | 28. Mar | here |
| @passion-ground | 1. 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
: Like in every post you find links to his amazing educational videos. For example here
- From
- From
*If you like me to add other analysts or add information please let me know in the comments.