Bitcoin TA - summary of analysts - 23. Feb 18

Regular daily update on BTC ta analysts opinions.

Own comment:

• It seems signs are getting "darker" for the moment and the markt gives mixed signals. Either we just saw a small correction or we are going down (-1'000= one more time. But everybody seems to expect that we go afterwards to higher highs which eases the pain.

Analysts key statements:

• Tone: Weekly get looking bad - another day closer to week end and if we close at the weeks low that isn't good. Daily we get another candle trading below low of the previous candle. That isn't good. Other than that no news on the daily. 4hourly isn't looking good either. We have support at fib 9'594 but he think it won't hold as the daily is only on a 3 and the 4 hourly is on a 5. 1 hourly same - not good looking as we breached lower barrier of the channel.
• 
  @haejin: We are closing in on the apex of an uncanny wedge pattern (see chart below). We either break out to the upside or if price breaks down below the lower blue line, then the white horizontal line as the Neck Line to a smaller H&S Top could take place.
• -no new update till now-
  Now wave should be completed - running everything as he expects. After coming back to 11'000 we see a 50-78% correction (of wave 1 move upwards) which would be healthy. Target of wave 2 is around 8'500.
  @ew-and-patterns:
• 
  @lordoftruth: Right shoulder in progress as expected. Target 8.7- 9.2K likely for 24th-27th, followed by upward move to hit 14.5-15K. Expected trading for today 8'700 - 10'700.
• 
  @philakonecrypto: Signals are mixed. He sees major resistance at 10'130. He sees a channel (on the 15 min chart) and a possible move up to the upper barrier line. General he waits for new signals from the market for a confirmation of mid term trend.

Overall sentiment: neutral
(last: slightly bullish)

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.