Regular daily update on BTC ta analysts opinions.
I am thinking of the following improvements for the future:
- Evaluate other analysts: I got several names here (@drumsta, @philakonecrypto thanks to recommendation of @hefziba, @salahuddin2004 thanks to recommendation of @juliealexander). I probably will put some criteria together: followers, hit rate, etc. before adding. Please let me know in the comments if you got other ones.
- Add a metric how often an analysts has hit his short term target. That would be a great thing to know I guess.
analysts key statements:
- Tone: MACD is crawling up which is positive but the RSI never went to oversold which indicates the whole move has not bottomed out. First resistance to take is at 11'700/11'900. Tone sees a pullback to 11'200 followed by an increase to testing next barrier 12'800.
The current triangle (daily) remembers him about the one in 2014 which ended into a bear market. At that time market corrected - went up 100% and than came into this triangle and broke down below.
triangle in 2014 - @haejin: Sees three scenarios - Correction continues towards 7'000ish. We are breaking through first barrier at 11'400 (my comment: happened overnight) moving towards 13'700ish and consolidating back to the 7'000ish (bull trap) or we also break through the barrier of 14'200 going into new bull trend. MACD support bullish momentum so scenario 2+3.
As a new scenario (not primary count) he see a recovery towards 13'700ish with consolidation towards 6'000.
- @ew-and-patterns: Sees a short term up move towards 12'800 and than moving towards 14'000 after a short pullback. This is followed by a sharp correction towards 7'500 and lower. Scenario is invalid if barrier of 16'100 is broken.
- @lordoftruth: Bullish for today. Recommends hodling as bitcoins utilization growth and lightning is remediating transaction backlog and prices. Trading between 10'700 and 12'900 expected.
Overall sentiment: bearish
(last: bearish)
Reference table
| analyst | lastest content date | link to content for details |
|---|---|---|
| Tone Vays | 28. Jan | here |
| @haejin | 28. Jan | here |
| @ew-and-patterns | 28. Jan | here |
| @lordoftruth | 28. Jan | 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 / bearish = 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.
Currency is numbers and numbers never end. If it takes currency to be powerful, your search for power will never end. thanks for shareing informatiom @famungar
Very helpful!! Of interest is that institutional funds are also now very bullish on bitcoin too, having doubled their long positions and halved their short positions recently. All the analysts seem to be in alignment, which I view as a plus. I'd just caution folks to be careful because that much bullish sentiment can flood money into BTC and shoot it up temporarily, before it dips from a profit-grabbing selloff.
Absolutely - totally with your comment.
About your last comment - I resteemed a very good article from a friend of @ew-and-patterns. I find that one extraordinary and worth reading in detail. One of the few articles daring to give a long term outlook on bitcoin.
Here is the article
these days everyone is thinking about the future of Bitcoin and altcoins and what will be their future? Will it come back to $5000 to $8000 or again it bounce to up? So far no one knows what's goin to happen. But we will see a big change by end of March after G20 summit. This G20 summit is based on rules and regulations of cryptocurrencies. Hope the result will be positive. Since Chinese government has banned in China so the Chinese traders started using exchangees based on Hong Kong. These present price of bitcon is $10000 but it is sold at premium and traded at $12000 at Hong Kong exchange.
Yes you are right - fundamentals aren't considered and could change things very quickly.
I was aware that G20 is talking about Crypto but wasn't that is a full summit purely dedicated to this topic. I need to dig into that!
Interesting analysis though I'm not normally into subjective TA but always curious what people think. Short term I'm bullish on BTC (and long term but it will have its ups and downs) as seen from my data below. Check this out if it interests you: https://steemit.com/steem/@weilii/introducing-the-neux-oracle-steem-and-bitcoin-trade-signals Just started following you, would appreciate a follow back if my price analysis content interests you as well :)
Thanks for sharing this high quality content with us !
Appriciate that
Great overview as always, glad to see you're adding more and more people to these posts. Thanks for sharing! Haven't thought of anyone yet, but these posts are great for quick updates.
I'm thinking of doing something similar from the top crypto news website each day, or each week etc.
That would be great! I am looking forward to read it!
Great to hear! I just started a new series for Steemit beginners so it probably is not relevant to you, but I'm doing it to try and grow the platform - will be doing it for a week or so, but also trying to squeeze in some cryptocurrency updates!
@haejin is one whom I respect very much, I hope one day I will get to meet him. Thanks for sharing this information.
Hello famunger, would like to second the recommendation for philakonecrypto, I made money on his Ethereum projection. He also constantly updates as he daytrades
Great - thanks. For how long are you following him already?
To be honest with those strong recommendations for him I was wondering why he hasn't got more followers. But probably he is still building up - I will for sure look at him in detail an seriously consider him. I need also to think of an limit or of two classes of analysts. At the moment each analyst takes around 5-20 Minutes for adding him as I watch the videos (if there some) thoroughly.
Let's hope for a stable growth in the next months!
Let's go!
Oh yes - that would be sweet!
Well written @famunger ! I really like how you have added something for every taste. If I want to just know in a glance what's the mood I can do it, If I want to know more detailed info - still doable. Great content ! Thanks for sharing and for the input
thanks for shareing information following you, to keep in touch about crypto world
Thanks again..
Kindly be informed, I am Tone Vays's Fan, and I read always his analysis..
Cool - we have something in common. Just send him today an email asking for a coaching session. Hope he gets back to me soon.
Wow really good ta summary of current situation. Precious details to treasure. Thank you