Bitcoin TA - summary of analysts - 3. Feb 18

Regular daily update on BTC ta analysts opinions.

Own comment:

• Interesting time - the blood bath of yesterday ended in the region several analysts considered a possible bottom (7'500/7'600). Now Tone and Hive account@haejin start seeing a possibility that we found the bottom but still are looking for confirmation with a higher high.
  Hive account@philakonecrypto, Hive account@ew-and-patterns and Hive account@lordotruth stay bearish seeing one last drop to bottom targets.
  It seems in both ways the bottom is near or already reached.

Analysts key statements:

• Tone:
  Due to the very short time we were at the 7'600 Tone see a solid probability that we saw the bottom. Bounce is invalidated if we get a closing below 8'200. Bounce is strengthen if we close above 9'000. Weekly charts still look bearish though - it would need a close around 10'000 to ease this.
• Hive account@haejin: Support line around 7'900/8'000 needs to hold or bearish trend is continued. It is necessary to get a higher high to confirm bounce (which is above 9'100).
• Hive account@ew-and-patterns: Secondary patterns is invalidated. He sees that this can't be the bottom as it would violate wave rules. He sees a bounce towards 10k and than go down to 6k.
• Hive account@lordoftruth: Support 8'000 attracted a lot buyers. He sees two scenarios - That was the bottom and we close above 9'400 which will cancel the bearish trend. Or the more likely scenario (main scenario) price will move under 8'000 and price gets down the crash zone towards 6'800.
• Hive account@philakonecrypto: Looking at shorts vs long positions on bitfinex longs are growing more and more (30'000 long vs 11'500 shorts). He expects break out upwards towards the 9'500 (short term bullish). Than he thinks we go down one more time towards his target of . He stays with his target of bottom at 7'900 - 8'400.

Overall sentiment: bearish
(last: bloodbath)

Reference table

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 / bullish = 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.