Bitcoin TA - summary of analysts - 05. May 18

[famunger]

Regular daily update on BTC ta analysts opinions.

**My summary - short-term sentiment: slightly bearish ** (last: bearish)

• We are about to break the 10'000.

• The missing correction gives the analysts some headache as it will come. The later the more powerful it is going to be.

• If we break 10'000 there is probably a run up to 11'250.

• April was good month for crypto. June is usually also a good month - not as good as April though. Lets see.
  

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: Looks more and more bullish and Tone refuses to believe it. He needs to be proven otherwise by breaking 12'000 resistance.
• Daily: We are close of breaking 10'000 - still he sees this move as short lived.

@haejin:

BTC white wave 3 is still in progress and could touch the $10k mark very soon! It still needs to do wave 4 and 5 should take it well within $10k. Again, that likely would complete the five wave sequence and that'll be followed by an ABC retracement as shown in below chart.

@ew-and-patterns:

It looks like BTC has finally started white wave 5 of blue wave 1. After this comes a requisite ABC correction. He thinks it will be a big correction to scare off investors, because the big money investors know what comes after blue wave 2.
They want a cheap buy in price to start off a giant rally.

@lordoftruth:

He sees two scenarios:
Best case: Below 9'911, the price will try test 8'357 followed by 7'614, supported by the double top at 9'875 seen on 4H to build our Inverted Head & Shoulders Pattern before the continuation of the bull trend towards 12'400.
Worst case: Above 9'911, the price will try test 10'158 followed by 11'300 at 38.2% Fibonacci line, followed by crashes at least 70% again.
Todays trend is neutral. Expected trading for today is between 9'496 and 10'158.

@philakonesteemit:

BTC remains in a sideways trend where the outcome is confusing. Though, one thing that is certain is that there's a possibility for newer highs and of course on the end enter, we have a chance to drop off a cliff to 8'750 range.
Bearish view:

Bullish view:

@passion-ground:

It is rather important for me to note that the largest “secular trend” (monthly chart) is turning bearish against a backdrop of the long-term (daily and weekly charts) turning bullish. The battle is on, and a victor is far from being decided at this juncture.

Summary of targets/support/resistance

Reference table

analyst	latest content date	link to content for details
Tone Vays	05. May	here
@haejin	05. May	here
@ew-and-patterns	05. May	here
@lordoftruth	05. May	here
@philakonesteemit	05. May	here
@passion-ground	02. 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)
• 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 @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.

Comments

[jaibaru]

Interesting post, hopefully Bitcoin prices continue to increase, success is always for you @famunger.

[omor1999]

I always follow your post and resteemit done dear

[captain.crpyto]

I think we need a boost in volume to break 10'000 and find support on it.

[crypto-econom1st]

I'm in Düsseldorf this weekend. Is that close by where you live? Any pointers for what I should do in Düsseldorf?