Regular daily update on BTC ta analysts opinions.
**My summary - short-term (next 24h) sentiment: bearish ** (last: bearish)
Bearish scenario (preferred):
Price rebound after being oversold.
Price comes to a hold below 6'900 and than breaking down again.
After breaking 5'945 (close) 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 - having a double bottom.
We go up to the top of the triangle and probably to 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:
Price dropped last few hours. Rest remains unchanged (video with Doug Polk mainly covering Tone win his bet about a drop below 6'000):
- Weekly: We bounced back from 5'780. Candle doesn't scream "reversal" candle. Bounce is not so surprising as we fell very fast an need to recover before going down. We are in the progress to remove the top 3 candles from the 30 MA - so this average is accelerating to the downside and will accelerate even more. The 50 MA takes 20 more weeks to remove those top candles.
Can the 5'780 be the bottom? Yes - but he gives it only a 5% chance. - Daily: Yesterday candle is a text book dragon fly doji which is reversing us for now. Though this candle is not as strong as it could reverse a bear market typically (there is always a chance).
The current bearish count will be broken probably today but that will set us up for a new bearish count soon.
:
Our Final Target around 4'300 has not been reached yet. Keep in mind 4'300 area is the point where bitcoin price should gravitate to, and the below Butterfly most likely will finalize this action.
Bitcoin price start today to press 6'039, supported by EMA50, and we wait for more decline below 5'878 again. As a lot of stops could be accumulated below this important level. Once they will be triggered, bitcoin price could accelerate lower, right to our final target.
No Change to our bearish scenario, conditioned by the price stability Below 6'842. So we still wait for more losses towards 5'500 followed by 4'300 Area / Butterfly "Buy" the final destination and the potential bullish reversal location.
At press time, bitcoin price is around 6'100 and our Bearish Journey continues.
Todays trend is bearish. Trading between 5'500 and 6'600.
:
Target Zone was hit. Waiting for the bulls... the yellow wave 2 correction should be done now.
We have a potential cycle low in @ 5'780. And we are already seeing a candidate for a potential wave 1. He thinks it needs a few weeks to determine if this is still part of the correction or not.
Yellow wave 1 could also be wave A, meaning that it could be the start of a bulltrap.
:
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 | 27. June | here |
| @lordoftruth | 27. June | here |
| @ew-and-patterns | 26. June | here |
| @passion-ground | 18. June | here |
| @haejin | 13. June | here |
| @philakonesteemit | 31. May | 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.