Regular daily update on BTC ta analysts opinions.
**My summary - short-term sentiment: bearish ** (last: bearish)
- We are holding above 9'000 area.
- Are we able to pick up steam here to go into the 6 digit numbers or do we need a correction first?
- Key area is the range of 9'750 - 9'990. If we break through that more upside is expected. If not we likely see a correction before moving up again.
- April is used to be a good month for crypto. Lets see how this turns out this time: This seems to be confirmed also for 2018. 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: Looks fairly strong. Clearly broke the trend line and got away from 50 MA. He is not yet turning neutral but is close to. Because we had a few weeks a similar move from 6'000 to 12'000 100% up and than back to 6'500 50% down. So we need to be above 12'000.
- Daily: Big down day looked very bearish and he expected to go down to 50 MA but we didn't. We are facing another death cross (128/200). Stagnated near the top.
:
If Impulse count as shown below is correct then it would probably look like the below chart. Blue wave 3 needs to put in a higher high soon. That higher high needs to be above 9'750.
Alternate count is upward pointing wedge (abcde). Last wave e towards 9'700.
If we get higher high then probable pathway leans towards A) if there is a lower high then the ABC red looks likely.
50:50 chance here.
:
He expects wave 4 to be done in 1-2 days.
Either we are looking at ABC correction or triangle like this:
A)
B)
:
Move up slowed down considerably. He is convinced that the correction towards 7'500 - 8'000 will start in a couple of days supported by RSI (verge of overbought).
So 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).
Clear breaking of 9'911 will invalid current scenario.
Todays trend is slightly bearish. Expected trading for today is between 8'750 and 9'911.
:
Bullish scenario got confirmed. Possible further small wave up to come. See bull/bear scenarios below.
:
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 | 29. Apr | here |
| @haejin | 29. Apr | here |
| @ew-and-patterns | 29. Apr | here |
| @lordoftruth | 30. Apr | 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
: 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.