Bitcoin $BTC Forecast: Midweek Edition: Flash Crash

September 05 2018 18:42 UTC

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This edition features popular Bitcoin $BTC price views from @coindesk @investingcom & @bitcoinsguide. Or jump right to today’s Bitcoin $BTC Forecast.

@coindesk

View: bullish

bullish

Omkar Godbole of @coindesk elucidates "BTC’s recovery from $5,859 (August low) has produced the first higher price low of the year, which indicates the tide is turning in favor of the bulls [and] despite today’s dip, BTC’s bullish move above the falling channel hurdle looks legitimate and the rally is sustainable"
Published: Sep 5, 2018 at 11:13 UTC | Updated Sep 5, 2018 at 11:34 UTC

@investingcom

View: neutral

neutral

Automated Signal of @investingcom enunciates "BTC/USD Bitfinex Technical Analysis > DAILY >
Summary:Neutral
Moving Averages:Sell Buy (3) Sell (9)
Technical Indicators:Strong Buy Buy (7) Sell (0)"
Published: September 05 2018

@bitcoinsguide

View: neutral

neutral

Dalmas Ngetich of @bitcoinsguide affirms "recent higher highs in Bitcoin prices have not only been positive for the crypto market but went a long way in instilling confidence in investors battered by bears [and] bull momentum is waning and after today’s five percent dip in prices, we now have a nice bearish engulfing pattern retesting the upper limit of our support "

Bitcoin $BTC Forecast

on Wednesday September 05 2018 18:42 UTC

bullishneutralneutral

The crypto pundits say: “bullish/neutral/neutral/”.

One expert is still bullish, and two neutral after a $BTC flash crash which neared -5% loss overnight.

Our bullish expert sees the higher low as a validation of probable continuation of a bull rally. If it were not a higher low, then the call would be a bear trend.

The automated signal from @investingcom splits into a “sell” on moving averages, and a “strong buy” on technical indicators. This results in a neutral price view.

Our third expert is cautious. They see a possible price direction change downwards here – depending on what pans out in short term trading.


[legal disclaimer] Just one news report can invalidate a technical analysis.

Disclosure

The author holds Bitcoin $BTC at the time of writing.

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