As of 23:00 (UTC) on Feb 20, Bitcoin (BTC) is trading at $3,983.85, up by 0.67% in the past 24 hours and showing a continuous increase since Feb 17. CoinNess.com compiles the Bitcoin technical analysis of popular analysts as follows:
1) Outlook: Bullish
Crypto analyst 'Rakesh Upadhyay': Bitcoin (BTC) closed above the downtrend line on Feb. 18. If the recovery continues, a rally to $4,255 will be likely. Above this level, the BTC/USD pair will complete a double bottom pattern which has a target objective of $5,273.91.
Crypto analyst 'Flip Flip': In good news for the bulls, the MAC-D on the daily chart has crossed zero for the first time since August 2018, and there are no signs of bearish divergences in this move yet. The CMF is starting to show some sign that there the bullish pressure is starting to ease off, which is what would be expected as we reach towards $4,000.
2) Outlook: Bearish
Crypto analyst 'Flood': I'd imagine we see a sweep of 3800 in order for larger players who missed the move to fill up on some longs and reduce some short hedges. This should be followed by a sharp bounce. BTC seems fairly bullish here, but if $3,700 breaks I wouldn't stay in any longs.
Crypto analyst 'Josh Rager': Notice the long wick, a nice sign of a slight retrace likely. Would like BTC [to] push up slightly higher to at least $4,100 to mid $4ks, [which] would be a nice target. For traders – this is good volatility. For Holders – you could see new lows in the coming weeks.
A strong rally pushed the price up 20% over the last 10 days. So far, we have yet to establish a new high.
Crypto analyst 'Bitcoin Schmitcoin': Just above the current price level is a strong band of resistance that the market has failed to break. This resistance includes the weekly 200 EMA - a notoriously strong level to break. If we fail to pop a new high, we can expect to see a retest of the low $3,000s.