Regular daily update on BTC ta analysts opinions.
My summary - sentiment: neutral (last: neutral)
- At the moment we are hovering at 9'150 coming down from 9'890.
- We are hold by the 200 MA for now but that for quite some time now. I am wondering for how long that support remains intact.
- We have several analysts seeing uns going down for another correction wave before rising. But falling below those critical supports (Trend line and 200 MA) and than "Just" getting back up seems to me quite a challenge for BTC. We will see.
News about the blog
- None
Analysts key statements:
Tone:
- Weekly: He would like to stay us green (above 10'420) this week which could set us up for bullish momentum next week.
- Daily: We bounced yesterday great but he needs more confirmation. He wants the 2 to trade above the 1 (tomorrow) and above the 50 MA.
- 4hourly: looks also bullish but comes now to a certain resistances. He would wait here also for more signals.
@haejin:
He sees wave 2 with subwave ABC correction is on bringing us to 8'600 before bringing us up in wave 3.
@ew-and-patterns:
He is still bullish from his counts and gives us three alternate counts (two thereof bullish). But his gut feeling tells him that more "pain" to come.
One is basically that the iSHS pattern completed the right shoulder and we move upwards from here.
Second we see another wave C bringing us to around 6'500 before moving up.
Third most bearish option: WXYXZ correction where Z is to come and brings us down to 3'700.
@lordoftruth:
Bitcoin price looks ready to continue its climb but technical indicators still give mixed signals.
Bears haven't been able to take advantage of the breakdown below 9'675.
If we break 11'700 iSHS will be completed and we move to the upside.
Todays trend is bullish. Expected trading for today is between 8'600 and 10'200.
@philakonecrypto:
Shorts loading up. He see us going up in a B wave before coming down to wave C hopefully being the final one before going back up. He hopes that B wave brings us up at least to 9'600. If we stuck at 9'200 bullish momentum is really in danger.
@passion-ground:
His preferred count is still in play and he sees us coming down to lower channel support at 7'463.
Summary of targets/support/resistance
Reference table
| analyst | latest content date | link to content for details |
|---|---|---|
| Tone Vays | 12. Mar | here |
| @haejin | 12. Mar | here |
| @ew-and-patterns | 11. Mar | here |
| @lordoftruth | 13. Mar | here |
| @philakonecrypto | 12. Mar | here |
| @passion-ground | 12. Mar | 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.
Here is my updated blog just released!
https://steemit.com/bitcoin/@philakonesteemit/bitcoin-btc-live-stream-march-13-morning-analysis-is-usd7-661-usd8-200-a-possible-target
So @haejin saw yesterday's ABC completed. Today it is not completed and this has happened too many times. I am completely aware that TA is very subjective and not an exact science. What do you think ?
The guy is not a fortune teller. Why try and hold him accountable for a bad prediction? Don't like his content, then don't consume it.
I much prefer supporting @famunger over Haejin that is why I look at his posting of haejin and others' analysis.
I am not holding anyone accountable ,lol. Just stating a valid point here. I try to understand what kind of logic he uses but everytime I understand something he changes his mind with the market.
As you can see I am not consuming haejin's content but famunger's. You want me to not consume his content and not share a valid point. Please don't create a conflict out of thin air.
I guess we are in a situation when market is manipulated by so many heavy weighs, that it is hard to predict using any analysis on how they are going to shake it tomorrow.
He probably changed the main scenario he was working in. It does seem a bit iffy to see the charts change like that, but it's just not efficient - as much as I'd like to see it though - to post here all the scenarios they would consider.
Great post. Any thoughts on the DENT coin?
Anyone else really dislike, how great projects are brought down in value just because they are tied to a proof of store value?
I think grouping the yearly "low" projections in the long-term table with the yearly high projections is a great idea! Makes perfect sense - good move @famunger! I will adjust my tables accordingly...
Thanks for the various viewpoints. I see that you’re also in Switzerland!
been following Haejin's analysis for a few weeks now. seems like everytime he expects a series of subwaves to complete and expects to move up, but everytime we reach that point we are drifting further down, then he updates is analysis to next targets before saying we could move up, then we drift further down. seems the market is getting lots of downward pressure on any attempt to move up. I guess it doesnt help when one bull day can be wiped out by the 1 hr dumps.
Haejin is great in a bull market - go to his steemit and have a look at all the stuff from September onwards when all the alt coins etc were going off - he nailed it time and time again. I have found though that since the market took a bearish turn he does not respond well and his analysis is continually being adjusted downwards.
yep, but in his defense, lots of people have been surprised by this 70% correction, the cup and handle failure that turned into a dbl top also seemed to have been surprises. very unpredictable market, as always!
philakone has a new steemit @philakonesteemit Your still linking to old hacked account. Cheers