I'll say it right away - NO. Moreover, just like that, in big bold letters.
I asked him not just to give a forecast but to compile a report on the signals he relies on. Next is just a quote, I marked where he made a mistake with a strikethrough:
Current price: ~80,200 - a guess, but it was like that in the morning
Change for the week: +3.8% - how did he calculate that?
Weekly range: 76,900 — 81,500 - now it's clear how it counts 🙈
Volumes: Moderate, with a sharp spike on April 9 against the backdrop of a surge above 80K. - and April 7, did you forget?
Key levels
• Resistance: $81,500 — $82,000 (not broken)
• Support: $78,000 (subjective here, but possible) and then a strong zone at $73,800
Technical analysis
• Trend: Stable upward channel, but local consolidation is starting. Here I started to boil 🤯
• RSI (daily): 65 — no overheating, but the market is close to the overbought zone. I asked about RSI again. The options were: 38, 51 - last time I guessed it 🙈
• MA 50 / MA 200: Price confidently above both, bullish trend. I have no words, he does not compare real data, but just takes pieces of text from different articles over different periods
On-chain metrics
• MVRV: 1.83 — the market is closer to the neutral zone, no overheating yet.
• STH MVRV: 0.87 — short-term holders are on average at a loss, the potential for upward movement remains. - gave half of the info
• Exchange balances: BTC outflow continues, investors are holding coins. It's been a week, and there is inflow to the exchanges.
Fundamental factors
• Halving in just 7 days (April 18) — excitement is growing, volatility is possible. I asked again, 'exactly in 18 days?' he says: 'sorry, I was wrong, in 6 days' 🤪
• Fed: Powell did not make important statements this week. The next speech is on April 17. - I don’t know this, correct me if I’m wrong
• US Inflation (CPI for March): Came out above expectations — 3.5%, the market partially reacted to this. Not just a number from the ceiling, but also an interpretation
General conclusion
The market remains bullish, but slightly overheated in the short term. There may be a 'shakeout' before the halving, but the overall sentiment is positive. 73,800 remains a key zone for purchases (if there is a correction). If we break 82K - a sharp rise up to 85K is possible.
The second part of the output is almost acceptable)) I think if we break through - there will be growth above, there is no strong resistance at 85. But for now - we haven't broken through, so the market remains bearish.
Write your examples where chat jpt made mistakes - it will be useful.