Regular daily update on BTC ta analysts opinions.
**My summary - short-term (next 24h) sentiment: bears ** (last: bloodbath)
Bearish scenario (preferred):
Price took us lower (5'865 at the moment)
Last stronghold - the low of Feb 5th - 5'945 seem to be broken - close needs to come though.
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 (unlikely):
We bounce from this level - this move only being a bull wick.
We go up to the top of the triangle and probably all time highs.
: 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. This year it looks like one of the worse month. Will update chart next month.
News about the blog
- I reordered the analysts based on the frequency they are updating.
Analysts key statements:
Tone:
- Weekly: We are on a 6 of 9. 3 more weeks of downside. We going to close on a new weekly low. The double bottom won't hold. He compares the situation with the 2014 area just before the big drop (-40%). This would mean moving from 7'000 area (we were working on) to the 5'000 area.
- Daily: We had just "one bad day". We are on a 2 of 9. More downside to come.
- 12hr: He is expecting us to go down towards 5'750 - bounce from there towards 6'000 and go down than significantly.
:
Bitcoin price resumes its negative trading as we expected Below 6'039, which supports the continuation of our bearish scenario, reminding you that breaking 5'878 level will push the price towards 5'500 as a next station.
No Change to our bearish scenario, conditioned by the price stability Below 6'900 and when the Accumulated Stops will be triggered below 5'878, the price will accelerate lower towards 5'500, to reach our Final Destination at 4'300 Area / Butterfly "Buy" that appears on the below chart.
At press time, bitcoin price is around 5'950 and our Bearish Overview remain valid. Keep an watching eye ( Today ) on 5'878.
Todays trend is bearish. Trading between 5'500 and 6'600.
:
Yes, it happened. We have a new low in BTC. 5'920 was breached.
This killed his alternate bullish count.
One last chance for the bulls - what we see is a bull wick:
If we don't pull up significantly soon or if you see it crashing through 5'000 immediately, this confirms the bearish counts. Target could be 3'000 if it is in fact a big ABC like this:
:
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.
:
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.
:
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.
Summary of targets/support/resistance
Reference table
| analyst | latest content date | link to content for details |
|---|---|---|
| Tone Vays | 23. June | here |
| @haejin | 13. June | here |
| @ew-and-patterns | 24. June | here |
| @lordoftruth | 24. 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.