Bitcoin in the News : 2020-02 Price

In last month's price post, Bitcoin in the News : 2020-01 Price, I wrote

In January, the price was up, up, and away.

As Cointelegraph's February price chart shows, that trend continued until mid-month, then reversed direction.

Bitcoin (BTC) Price Index

I picked out four high volume periods worth investigating. Two were from the first, rising half of the month, two from the second, falling half:-

05-Feb-20 16:00 +
11-Feb-20 16:00 +
19-Feb-20 20:00 -
26-Feb-20 16:00 -

Cointelegraph's Analysis category flagged nothing significant to account for those periods of interest, so I turned to the service's Price Analysis tag. As usual, the discussions were based on technical analysis.

• 2020-02-07: Price Analysis Feb 7: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ADA, XTZ • 'The institutional investors have maintained their bullish stance on Bitcoin. Though the spot price is yet to hit $10,000, CME Bitcoin futures have already reached the five-figure mark.'
  
  
• 2020-02-12: Price Analysis Feb 12: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA • 'The bulls are attempting to push Bitcoin above the overhead resistance at $10,360.89. If successful, a rally to the long-term downtrend line at $11,500 is possible. The upsloping moving averages and the RSI in positive territory show that bulls have the upper hand.' [RSI = Relative Strength Index]

In retrospect, that looks like happy talk. Aren't the bulls and the bears all reading the same charts?

• 2020-02-21: Price Analysis Feb 21: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK • 'Contrary to our assumption, if the bulls fail to push the price above $10,500, the bears will make another attempt to sink the price to the critical support at $9,097.15. If this support breaks down, the advantage will turn in favor of the bears.'
  
  
• 2020-02-26: Price Analysis Feb 26: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA • 'The equity markets sold off sharply on Feb. 24 and 25. Even gold, a traditional safe-haven has stalled its rally. On similar lines, cryptocurrencies are also witnessing a period of correction.'

The word 'correction' implies a general uptrend. What happens when a 'correction' becomes 'capitulation'? In the case of bitcoin, everyone might simply walk away.