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.
We are hovering around 6'200.
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.
- @haejin: 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 falling faster. He is expecting us to be below 5'000 first or second week of July. From there he is expecting a strong bounce e.g. towards 7'500 area. That doesn't mean that there might be more downside to come.
- Daily: The market could rebound any moment but he sees the chart as bearish as it can get. He is giving his target of below 5'000 a 90% chance. He is expecting that the strong bounce from there might bring us to a death cross of the 128 and 200 MA. That would lead to a significant short trade possibility.
@lordoftruth:
Elliott Wave & Fibonacci suggest that more weakness should be expected, as long as 6'842 is intact.
Our 4th Target 5'878 had been met yesterday and still 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 6'150 and our Bearish Overview remain valid. Most likely the up move will be limited to 6'250 zone for today.
Todays trend is bearish. Trading between 5'500 and 6'600.
@ew-and-patterns:
From last post:
With the new low in BTC. 5'920 was breached.
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:
New scenario:
But he sees also the following bullish scenario - the bottom is in and we go up from here. He thinks this is not very likely but as the overall sentiment seems bearish this might be a "surprise" scenario which could play out.
That ETH is giving buy signals supports this scenario.
@passion-ground:
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.
@philakonesteemit:
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.
@haejin:
@haejin is moving his analysis to bitcoin live. Those of you who want to follow him directly should look into subscription. I will try to get in contact to see if I can use an abstract to post here also in the future.
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 | 24. June | here |
| @lordoftruth | 25. June | here |
| @ew-and-patterns | 25. 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 @philakonecrypto: Like in every post you find links to his amazing educational videos. For example here
- From @lordoftruth: Fibonacci Retracement
- From @haejin: Elliott Wave Counting Tutorial
*If you like me to add other analysts or add information please let me know in the comments.