Top Crypto Traders Insights | May 9, 2021 | Best Cryptocurency Traders

Top Crypto Traders Insights | May 9, 2021 | Best Cryptocurency Traders


Cryptocurrency trading can be as much an art as it can be a science. Just as Picasso and Albert Einstein are not the only experts of their fields that we follow, neither should we only follow one crypto trader’s advice.

That’s why I’ve decided to curate cryptocurrency technical analysis from the best crypto traders so that you guys can get a feeling for the market at any given time and get introduced to traders you maybe didn’t know before.

This bulk of this content will focus on TA (Technical Analysis) but I’ll add some sprinklings of fundamental analysis from the crypto traders here and there.

If there are any of your favourite traders that I missed who recently posted their TA, let me know in the comments!

Without further ado, let’s get right to it.

Top Crypto Traders Insights

@CryptOrca

CryptOrca posted this tweet talking about the $10k struggle:

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From his graph you can see that the BTCUSD LONGS on Bitfinex have increased significantly as the price started approaching $10k, indicating interest at this price range.

When another user said how shorts are being baited in at this price, CryptOrca insinuates that this may be another bear trap for them, saying that we have seen traps like this since $5k.

He also alludes to potential support ranges at 9500-9550 and 9150-9250.

His bullishness is further confirmed by the following graph which he has seen going around crypto twitter. He says that although he’s seen many traders alluding to the fact that this level might see strong resistance, he’s not one of them.

bitcoin ta may 9 2020

In another tweet he proposes that it ”may take some time but i bet we break 2019 ATH”.

May 9 Bitcoin TA Outlook: BULLISH

 

@Nictrades

Nicola Duke remains cuatious, reminding us that it has been three years since we saw such bullish price action on the weekly chart.

bitcoin ta may 9 2020

it made us over shoot the level too which is probably going to happen here too. 

The retest is the test as they say but at some point this rally will take a breather

May 9 Bitcoin TA Outlook: CAUTIOUS

 

@crypto_birb

In contrast to Nicola, CRYPTO₿IRB is of the opinion that the weekly chart is "not even slightly" over extended. He illustrates this by saying that the Stoch is currently at 69 with room to grow to reach previous highs in the 80-85 range. Crypto enthusiast Marry Chicone was quick to point out in the comments that this is a lagging indicator which just moved up a solid 12%.

bitcoin ta may 9 2020

₿IRB also brings attention to the price action trending above the 50, 100 and 200 weelky SMA's (Simple Moving Average) which represent long term supports.

long term trend is up it means short term dips are for buying

May 9 Bitcoin TA Outlook: BULLISH

Why Only 3 Crypto Traders?

Smiling face with sunglassesOut of all the crypto traders I follow these traders offered the most recent and applicable insights for the current and future price action. There are of course many other great crypto traders and I look forward to featuring them in future editions of this Top Traders Insights series.

Who are your favourite traders to follow? What is your outlook for $BTC? Let me know in the comments!

Like my content? Follow me @hooked2thechain on twitter!

Like technical analysis? Follow my Publish0x TA blog!

 

Important Notice:
  • Traders are quick to change their outlook on the market as price action develops.
  • This article does not represent financial advice. Trading involes financial risk.

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Hooked2TheChain
Hooked2TheChain

I spend all day researching, writing about and trading cryptoassets because they give the power back to the people


Bitcoin Price | Crypto Technical Analysis
Bitcoin Price | Crypto Technical Analysis

This blog is for bitcoin technical analysis. I will post videos and blogs of my analysis as well as the analyses of other famous crypto traders. Ocasionally I'll add in some TA from other cryptocurrencies too.

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