Regular daily update on BTC ta analysts opinions.
My summary - short-term sentiment: bearish (last: bearish)
We see since a while lower highs and lower lows - bearish signs - again confirmed by current recovery came to an hold at 7'189.
7'500 seems to become new major resistance. And needs to be broken to gain any bullish momentum.
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: Remains bearish. We closed above 50 MA weekly wish saved us somehow. New week only is helpful as soon as we are trading below or above last weeks candle.
- Daily: He is still projecting lower prices. As long as we are not able to break blue line (at 7'509) he sees us bearish. That line comes from last high. For now we have made lower highs and lower lows without exception.
:
He doesn't see too much similarity to 2014 as the network effect and usage is much more mature. He sees more similarity to 2013 which would project the following pathway and a price target of 147k for 2018.
:
He sees new lows to be imminent. The last bullish count he can find gets invalidated if we drop below 5'920.
But he sees the following bear scenarios more likely (primary count). Those scenario have different support / bounce areas: 5'400, 4'850, 3'550.
:
Bitcoin is slowly recovering and testing 7.17k. A major bearish trend line is forming at 7'500. Move above this is needed to gain bullish momentum. Bitcoin price may start an upside move towards 7.33k and 7.50k levels but probably not today so another move towards 6.49k might happen.
Swing move will end son as the limit is April 12th which is now supported by the squeezed 1D band.
Todays trend is neutral. Expected trading for today is between 7'340 and 6'490.
:
BTC test major trend line support which is established for month now. The range of 7'500 - 7'700 needs to hold. If we break below he is expecting us to retest 6'000. If support holds he sees a rally up.
:
He expects a slow shift from bearish to a bullish market. For that we need a series of higher highs and higher lows. For now he remains bearish but "less".
Summary of targets/support/resistance
Reference table
| analyst | latest content date | link to content for details |
|---|---|---|
| Tone Vays | 9. Apr | here |
| @haejin | 9. Apr | here |
| @ew-and-patterns | 6. Apr | here |
| @lordoftruth | 9. Apr | here |
| @philakonesteemit | 28. Mar | here |
| @passion-ground | 3. 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.