Regular daily update on BTC ta analysts opinions.
Own comment:
- It seems bears are getting strength. Analysts are mixed about how deep the correction will be. How ever all are seeing this as a necessary correction before moving up again soon.
Analysts key statements:
- Tone: Monthly chart is still (and was ever) bullish. Weekly we were close to a price flip. Due to the recent drop we are still at a red 7. To get a red 8 and not a color flip we would need a close below 8'200. That is possible but not likely. Daily started a new candle. Unfortunately we have not closed yesterday above the cluster of resistance which gave us a perfect reversal candle. If we close below 11'070 we get a red 1 indicating reversal started. 4hour chart gave us a 9 but it was a tricky one as next candle went higher. Than a red 1 with a red 2 below the red 1 made it bearish. As long as we stay above 10'400 we are ok.
- @haejin: Bitcoin needs to decisively breach the upper trend line of the channel at around 12'000 to maintain bull case. In that bull scenario pull back would not breach lower barrier of lower degree channel at around 10'500 and than go up to 13'103.
- @ew-and-patterns: Wave 1 might be completed. Now the wave two with an ABC correction should be next (see picture). A 50-78% correction (of wave 1 move upwards) would be healthy. Target of wave 2 is around 8'500. If wave 1 is not yet completed than the ABC correction will follow same patter just later.
- @lordoftruth: Ball is now in the bears court. A correction is likely as expected. Expected trading for today 9'700 - 11'700.
- @philakonecrypto: Looking for a decisive break in either direction. Either above 11'400 which would confirm that final wave 5 up is in progress (followed by correction) or if we go below 10'874 confirms ABC correction is in progress.
Overall sentiment: bullish
(last: bullish)
Reference table
| analyst | latest content date | link to content for details |
|---|---|---|
| Tone Vays | 21. Feb | here |
| @haejin | 21. Feb | here |
| @ew-and-patterns | 21. Feb | here |
| @lordoftruth | 21. Feb | here |
| @philakonecrypto | 21. Feb | 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 1 = the next price target an analysts mentions
- bottom = price target analyst mentions as bottom
Both target are probably short term (so next few days/weeks) - lower/upper barrier = Most significant barriers mentioned by the analysts. If those are breached a significant move to the upside or downside is expected. It does not mean necessary that the sentiment will change due to that (e.g. if upper resistance is breached it does not mean that we automatically turn bullish).
If you like me to add other analysts or add information please let me know in the comments.
Sorry for taking from your time.
I am slighty bearish ! The reason why I sold yesterday at 11.65K..
New update coming soon with the low of this drop and the new buy call..
Enjoy your travel.
Note, New update was done just now.
No problem - yes I got your feeling of being bearish. I know my sentiment call for all the analysts is not so clear at the moment because the time frame is missing somehow. That is why I might have someone with a lower target but still being bullish.
I meant this sentiment to be for the next few weeks. So if you expect a ‚normal‘ abc correction followed by another bullish impulse wave I would consider you still bullish to be compliant with my definition. But I guess I have to be more precise here what I mean by that.
I tried to get in contact yesterday with steemchat but it somehow refused to work - probably due to my internet access while traveling. Will try today again.
Understood..
Thank you..
No problem for steem chat .. will speak when you are back
For now I am bearish, as I wrote on my last update ( correction ):
"A natural rollback will lead the price to hit 8.7- 9.2K around the end of first week of March, followed by upward move to hit 14.5-15K around the first week of April. "
Check please my update and feel free to leave your comment if needed..
Have a safe travel..
Great - I look forward to movr up to 15 k and breaking the downtrend.
Thanks again!
I follow all of these individually, it's nice to have someone take the time to summarize them if I'm in a hurry for the day or just want to recap sentiments. Good job and idea.
I am glad to hear it is helpful for you! Thas for dropping the comment.
Great Post. Love it
Great post...i think bitcoin is the best coin in the world....bitcoin is valuable coin...so nice post...
I have a question. What do you mean as "short term"
I know that timing bit still needs improvement in terms of definition. It is days/1-4weeks so quite a range. Long term is really more month/this year.
Okay, thanks. Good work by the way :) I also do some BTC analysis, I would be very grateful if you check them out and give me some feedback :)
I'm glad you chose to do this in a information, I look forward to listening while a work during the day. followed.
@famunger
One question, How to take low risk by this situation forward?
Depends on goals and what you want to achive. If you are long term holder probably you need to do not much. You could short as an insurance as most analyst expecting a correction or sell like
@lordoftruth did and try to rebuy lower. But that is more risk for getting alpha.
Old rule also applies to crypto land
No return without risk. Higher risk = higher chance on return
Thank you very much my friend for sharing this information and analysis, you are a successful person, I wish you more success.
good luck my dear friend @famunger
This is a great idea. Incorporating the top TA's in a short summary is perfect for comparing their predictions/views. Thanks!