Regular daily update on BTC ta analysts opinions.
**My summary - short-term (next 24h) sentiment: bearish ** (last: neutral)
Bearish scenario (preferred):
Until 3rd of July 6'300 gets broken which moves price towards last stronghold - the low of Feb 5th - 5'945.
After breaking 5'945 we see panic and a significant drop towards new lows in the range of 4'975 and 3'100.
Bull scenario:
An iSHS pattern was formed with price target of 7'170. We reach this price target and volume is picking up bringing us even above it towards 128 MA daily and upside of the weekly triangle at around 8'000.
: 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?
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Analysts key statements:
Tone:
- Weekly: We are still at 6'725. We broke out of the triangle to early. he would not trade at the moment. He would wait for us to drop below 6'000 and make at trade of 6'000 to 5'000.
- Daily: He expecting this bounce to last max. up to 7'050. He is expecting the count to break.
:
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.
:
BTC turned bearish which I expected in my last post. The ABC pattern is finished.
In his best case scenario this is the last wave down:
If the drop ends above 5'920, it might still be wave 1 and 2 on a bigger scale. If it drops below 5'920, the next best alternate would be WXYX2Z.
:
No Change to his bearish scenario, conditioned by the price stability Below 7'090 and when the Accumulated Stops will be triggered below 5'878, the price will accelerate lower, right to our destination at 4'300 Area / Butterfly "Buy"that appears on the below chart, within less than 2 weeks.
At press time, bitcoin price is around 6'650 and our Bearish Overview remain valid, as we believe the mini uptrend could end soon as buyers start to feel exhausted, while TA signal that the bear pressure will come back into play.
Todays trend is bearish. Trading between 6'039 and 7'090.
:
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.
:
The move up off the recent pivot low has begun to wander sideways. Tonight we present both a bullish and bearish trade set-up for those so inclined to consider such.
We got a price target (iSHS) of 7'170 as long as 6'120 isn't broken.
Sell trigger if 6'331 is cross. Target of 400 downwards so at 5'931.
Summary of targets/support/resistance
Reference table
| analyst | latest content date | link to content for details |
|---|---|---|
| Tone Vays | 21. June | here |
| @haejin | 13. June | here |
| @ew-and-patterns | 22. June | here |
| @lordoftruth | 22. June | here |
| @philakonesteemit | 31. May | here |
| @passion-ground | 18. 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.