Regular daily update on BTC ta analysts opinions.
My summary - short-term sentiment: bullish (last: bullish)
The interesting support to watch seems to be 7'800 and 7'500 while 8'450 and 8'650 seem to be the interesting resistances. Either of those needs to be taken to get next signals.
April is used to be a good month for crypto. Lets see how this turns out this time.
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: We are on a price flip. We might go above trendline but until we do he stays bearish.
Daily: Daily looks bearish until candle goes over swing high (8'415).
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Bitcoin (BTC) is likely putting in an ABC ZigZag correction after putting in the white five wave impulse. Elliott Waves states that after a five wave motive, there is a requisite correction. The chart below shows that the first wave decline was in five wave steps (red). Whenever there are five waves at the onset of a correction, it's likely an indication for a ZigZag ABC correction type.
Bitcoin continues to rise gradually to 8'640 supported by EMA50, RSI, Stochastic and Oscillator. But 8'640 will be monster resistance and difficult to clear. Therefore he still sees short-term bearish risks and drop to 7'550 still expected before continuation of bull run.
Todays trend is slightly bullish. Expected trading for today is between 7'550 and 8'640.
Two Elliot Wave counts are on the table. An alternate was provided because we are currently seeing bulls defend the 7'800-8'000 range. Main is invalidated if bull break 8'458. If we break below 7'800 main count is confirmed and we see 7'400-7'600.
Main: