BITCOIN - BTC/USDT - 1H - Technical analysis published on 05/01/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 59,210.05 USDT
My targets
56,825.63 USDT (-1.65%)
55,666.88 USDT (-3.66%)
My analysis
The bearish trend is currently very strong for BITCOIN - BTC/USDT. As long as the price remains below the resistance at 59,210.05 USDT, you could try to take advantage of the bearish rally. The first bearish objective is located at 56,825.63 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 55,666.88 USDT as an objective. Crossing it would then enable sellers to target 50,745.69 USDT. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
5.2
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This analysis was given by boobski. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USDT rating 57,779.23 USDT. The price registered a decrease of -4.77% on the session and was between 56,603.11 USDT and 60,842.57 USDT. This implies that the price is at +2.08% from its lowest and at -5.03% from its highest.56,603.11
60,842.57
57,779.23
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BITCOIN - BTC/USDT indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 44,055.04 | 47,337.43 | 50,745.69 | 57,779.23 | 59,210.05 | 61,277.39 | 62,796.45 |
| Change (%) | -23.75% | -18.07% | -12.17% | - | +2.48% | +6.05% | +8.68% |
| Change | -13,724.19 | -10,441.80 | -7,033.54 | - | +1,430.82 | +3,498.16 | +5,017.22 |
| Level | Intermediate | Minor | Minor | - | Intermediate | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52,827.50 | 56,018.77 | 58,347.02 | 61,538.29 | 63,866.54 | 67,057.81 | 69,386.06 |
| Camarilla | 59,157.39 | 59,663.35 | 60,169.30 | 60,675.26 | 61,181.22 | 61,687.17 | 62,193.13 |
| Woodie | 52,395.98 | 55,803.02 | 57,915.50 | 61,322.54 | 63,435.02 | 66,842.06 | 68,954.54 |
| Fibonacci | 56,018.77 | 58,127.23 | 59,429.84 | 61,538.29 | 63,646.75 | 64,949.36 | 67,057.81 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 56,825.63 | 59,660.95 | 61,560.57 | 64,395.89 | 66,295.51 | 69,130.83 | 71,030.45 |
| Camarilla | 62,158.07 | 62,592.11 | 63,026.14 | 63,460.18 | 63,894.22 | 64,328.25 | 64,762.29 |
| Woodie | 56,357.77 | 59,427.03 | 61,092.71 | 64,161.97 | 65,827.65 | 68,896.91 | 70,562.59 |
| Fibonacci | 59,660.95 | 61,469.70 | 62,587.15 | 64,395.89 | 66,204.64 | 67,322.09 | 69,130.83 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42,106.96 | 50,658.51 | 55,666.88 | 64,218.43 | 69,226.80 | 77,778.35 | 82,786.72 |
| Camarilla | 56,946.28 | 58,189.28 | 59,432.27 | 60,675.26 | 61,918.25 | 63,161.25 | 64,404.24 |
| Woodie | 40,335.38 | 49,772.72 | 53,895.30 | 63,332.64 | 67,455.22 | 76,892.56 | 81,015.14 |
| Fibonacci | 50,658.51 | 55,838.40 | 59,038.54 | 64,218.43 | 69,398.32 | 72,598.46 | 77,778.35 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 45.16 | |
| MACD (12,26,9): | -794.8500 | |
| Directional Movement: | -2.75 | |
| AROON (14): | -7.14 | |
| DEMA (21): | 57,088.50 | |
| Parabolic SAR (0,02-0,02-0,2): | 59,332.81 | |
| Elder Ray (13): | -117.21 | |
| Super Trend (3,10): | 59,203.57 | |
| Zig ZAG (10): | 57,907.79 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 27.41 | |
| TEMA (21): | 57,096.63 | |
| Williams %R (14): | -54.51 | |
| Chande Momentum Oscillator (20): | 746.62 | |
| Repulse (5,40,3): | 0.3000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2300 | |
| Courbe Coppock: | 4.73 |
| MA7: | 62,455.83 | |
| MA20: | 63,870.92 | |
| MA50: | 66,617.24 | |
| MA100: | 59,527.99 | |
| MAexp7: | 57,606.64 | |
| MAexp20: | 58,232.40 | |
| MAexp50: | 59,749.42 | |
| MAexp100: | 61,160.50 | |
| Price / MA7: | -7.49% | |
| Price / MA20: | -9.54% | |
| Price / MA50: | -13.27% | |
| Price / MA100: | -2.94% | |
| Price / MAexp7: | +0.30% | |
| Price / MAexp20: | -0.78% | |
| Price / MAexp50: | -3.30% | |
| Price / MAexp100: | -5.53% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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