Regular daily update on BTC ta analysts opinions.
**My summary - short-term (next 24h) sentiment: bearish ** (last: bearish )
Bearish scenario (preferred):
6'425 broken as well
Last stronghold is the low of Feb 5th - 5'945 - after that we are wide open for a big drop ...
Bull scenario:
Based on SEC news we recovered up to the 6'800 and got rejected there. Expected to be a dead cat bounce. 7'050 and 7'250 are resistance to overcome to get bullish scenarios back on the table.
: 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.
Bounty project website launched. Are you becoming a bounty hunter? Steem-bounty website.
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Analysts key statements:
Tone:
- Weekly: It is pulling up. If the wick is larger than the body it might be a false breakout - you need to be careful here trading to the short side.
- Daily: CMF is declining all year. But some divergence since the big down moves. We got a longer wick on last days candle and a pull up. it seems we setup for a bounce. On the other hand we probably don't get a 9 which would be a setup for a trend reversal.
:
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.
:
He expects cryptos to drop 40-50% in the coming weeks. There is still a small chance that it will not crash, but it looks really bad.
Regardless of the count, the last relevant support level is 5920 (February low). If this is breached, I don't have any plausible shortterm bullcount left. But until then there is a small chance for this:
f we don't see this giant bullwick in the next two days, which brings BTC back into the triangle, I think this is what's going to happen:
The second pic suggests (white background) that the correction should be done in early August and that the optimal target for wave C is 3'100, because it would be the exact same length as wave A. (C=A happens quite often)
If this drop happens, my taget zone is going to be 4'500 - 3'000.
:
Bitcoin price shows clear positive trading after the rejection from 6'107, to test 6'736 close to the resistance at 6'800, due to remarks by a SEC official stating that bitcoin aren’t securities to be regulated like stocks.
As most likely the Recovery Attempt Was Over ( was limited to 6'800 ), we believe the bearish trend will resume supported by Stochastic which forms negative factor that we are waiting for.
As the Bear Run is not in its last leg, we wait for a clear break below 6'039, that will cause a panic sell to push the price towards our next targets at 5'878 & 4'267 to build our expected Butterfly "Buy" ( The potential bullish reversal location).
Our Bearish overview remain valid, conditioned by the price stability below 7'050 and only breaching 7'050 can stop our expected decline towards Major Support 4'267.
Todays trend is bearish. Trading between 6'039 and 6'800.
:
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.
:
Is a short-term pivot low in place? The move up off the recent pivot low, as promising as it may otherwise appear, is still just a pregnant thought in the grander scheme of things.
Summary of targets/support/resistance
Reference table
| analyst | latest content date | link to content for details |
|---|---|---|
| Tone Vays | 14. June | here |
| @haejin | 13. June | here |
| @ew-and-patterns | 14. June | here |
| @lordoftruth | 15. June | here |
| @philakonesteemit | 31. May | here |
| @passion-ground | 15. June | 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). 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
: 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.