Bitcoin $BTC Technical Analyses – May 24 2018

Coindesk
Omkar Godbole writes “Bitcoin Price Faces Bear Indicator Not Seen Since 2014”. Omkar uses the five-month moving average (MA), the 10-month MA, MA cross-overs, pattern dynamics including “lower-highs and lower-lows pattern”, relative strength index (RSI) and percentage loss tools to formulate an analysis.

Omar’s view is “BTC risks deeper pullback towards $7,000.”

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CoinTelegraph
Rakesh Upadhyay writes “Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, TRON: Price Analysis, May 23”. Rakesh uses price support, price sustainability, target objective (“The target objective is a move back to $10,000 levels.”), and risk to reward ratio to formulate his view.

Rakesh’s view is “The best approach is to wait and watch for a couple of days. If the BTC/USD pair breaks down of the support and sustains below $7,900, you shouldn’t buy.”

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NewsBTC
Sarah Jenn writes “Bitcoin (BTC) Price Watch: Short-Term Bullish Divergence Seen?”. Sarah uses price trend, support, Stochastic modeling, Fibonacci retracement, channel support, 100 and 200 simple moving average (SMA), RSI, channel resistance, subjective opinions on Market Factors, and a Federal Reserve report.

Sarah’s view is “bitcoin price could retreat to the 38.2% Fib near the mid-channel area of interest around $7,900” and “Stochastic has formed slightly higher lows while price made lower lows, creating a bullish divergence. This is another strong signal for a possible bounce.” She also writes “Bitcoin price continues to reel from profit-taking and the lack of positive industry updates.”

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Investing.com
Investing.com uses pivot points, technical indicators and moving averages. They assign a value to the tool and project a buy or sell signal for most, arriving at a weight for the buy/sell action.

The 24 hour action is “Strong Sell”.

Also, their 8 tracked cryptocurrency pairs (24 hours) are all red.

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