Bitcoin TA - summary of analysts - 18. Mar 18

[famunger]

Regular daily update on BTC ta analysts opinions.

My summary - sentiment: bearish (last: bearish)

• We are still at the decision point. I am missing the typical strong rebound and the "bull noises" - for me it looks damn bearish and like we are going to drop further. But like always I hope the more bullish analysts like @lordoftruth and @haejin are right.

News about the blog

• None

Analysts key statements:

Tone:

• Weekly: Not looking better. We are not bouncing strongly from the 7'600. We stayed for 2.5 years over the 50 week moving average. If we go below that is gets ugly.
• Daily: 50 day moving average - we are below that for quite some time. We were once above it again - broke down again - retested it from the down side an got rejected.
  The double support at 7'600 and the increasing trend line made him think that bitcoin will bounce there. But 7'600 seems to be dead. We have another new intraday low at 7'520 and the trend line is broken. If not a miracle is happening in the next 8 hours he is pretty bearish.
  He is convinced we are going lower. If we close in the area of 7'500 he is looking for going down at least to previous low (6'000.) and from there probably lower. See chart.
  

@haejin:

We are working on wave e with a new lower low. That will lead us in the range of 6'900 - 7'300. He sees the correction to be over soon.

@ew-and-patterns:

Wave 5 of 5 of blue wave 2 is ongoing. this can lead somewhere between 7'300 and 5'921. If we go below that the count is invalidated.

@lordoftruth:

He sees that the bottom is found at 7'530. Nevertheless the price might go down to 7'000 - 7'300 for a very short time frame to provoke strong buying. If we clearly go under 7'362 the current forecast is canceled and we go to hysterical zone.
Todays trend is bullish. Expected trading for today is between 7'300 and 8'700.

@philakonesteemit:

We bounced nicely from the 7'500. We might go down to 7'200 anyway and bounce from there. If we go above 8'050 bullish count is validated. Break below 7'530 validated bearish count and leads to 7'250.

@passion-ground:

We made a new low 7'555 - next target is the long standing 7'463. Than he is monitoring price action closely but see a likely chance to turn around here.

Summary of targets/support/resistance

Reference table

analyst	latest content date	link to content for details
Tone Vays	18. Mar	here
@haejin	18. Mar	here
@ew-and-patterns	17. Mar	here
@lordoftruth	18. Mar	here
@philakonesteemit	18. Mar	here
@passion-ground	18. 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.

Comments

[garryplays]

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https://chibifighters.io/

We are already in Alpha 0.3 and things look fantastic

[dizzyjay]

I definitely am hoping to be riding a bull and not a bear this next week or two here. We need a recovery.

[martin897]

Great analysis about bitcoin.......i appreciate this.....
upvote done....

[richardalom]

Thanks for sharing this photography is very nice post

[aronexxon]

Nice post you@famunger
Pliech
Upvote
https://steemit.com/photography/@aronexxon/springy-yellow-flowers-from-afar-and-up-close-04c51e0bb28e4

[d0zer]

I'm bearish. I'm guessing we will retest the bottom.

[impendero]

thank u so much all time