BITSHARES - BTS/USD - 1H - Technical analysis published on 06/09/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
67%
17%
17%
My opinion
Bullish above 0.008814 USD
My targets
0.009905 USD (+6.54%)
0.010428 USD (+12.17%)
My analysis
The basic bullish trend is very strong on BITSHARES - BTS/USD but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 0.008814 USD. Crossing the first resistance at 0.009905 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 0.010428 USD as an objective. Crossing it would then enable buyers to target 0.011382 USD. Caution, a return to below 0.008814 USD would be a sign of a consolidation phase in the short-term basic trend. 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 confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITSHARES - BTS/USD rating is 0.009297 USD. The price registered an increase of +6.29% on the session and was traded between 0.008743 USD and 0.009297 USD over the period. The price is currently at +6.34% from its lowest and 0% from its highest.0.008743
0.009297
0.009297
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of BITSHARES - BTS/USD indicates that the overall trend is strongly bullish. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.007513 | 0.008251 | 0.008814 | 0.009297 | 0.009905 | 0.010428 | 0.011382 |
| Change (%) | -19.19% | -11.25% | -5.20% | - | +6.54% | +12.17% | +22.43% |
| Change | -0.001784 | -0.001046 | -0.000483 | - | +0.000608 | +0.001131 | +0.002085 |
| Level | Major | Intermediate | Intermediate | - | Major | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.006169 | 0.007300 | 0.008024 | 0.009155 | 0.009879 | 0.011010 | 0.011734 |
| Camarilla | 0.008237 | 0.008407 | 0.008577 | 0.008747 | 0.008917 | 0.009087 | 0.009257 |
| Woodie | 0.005965 | 0.007198 | 0.007820 | 0.009053 | 0.009675 | 0.010908 | 0.011530 |
| Fibonacci | 0.007300 | 0.008009 | 0.008447 | 0.009155 | 0.009864 | 0.010302 | 0.011010 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.002103 | 0.004681 | 0.007350 | 0.009928 | 0.012597 | 0.015175 | 0.017844 |
| Camarilla | 0.008575 | 0.009056 | 0.009537 | 0.010018 | 0.010499 | 0.010980 | 0.011461 |
| Woodie | 0.002148 | 0.004704 | 0.007395 | 0.009951 | 0.012642 | 0.015198 | 0.017889 |
| Fibonacci | 0.004681 | 0.006686 | 0.007924 | 0.009928 | 0.011933 | 0.013171 | 0.015175 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.002685 | 0.004837 | 0.006435 | 0.008587 | 0.010185 | 0.012337 | 0.013935 |
| Camarilla | 0.007002 | 0.007346 | 0.007689 | 0.008033 | 0.008377 | 0.008721 | 0.009064 |
| Woodie | 0.002408 | 0.004699 | 0.006158 | 0.008449 | 0.009908 | 0.012199 | 0.013658 |
| Fibonacci | 0.004837 | 0.006270 | 0.007155 | 0.008587 | 0.010020 | 0.010905 | 0.012337 |
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): | 59.97 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 9.859021 | |
| AROON (14): | -21.428572 | |
| DEMA (21): | 0.008942 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.009987 | |
| Elder Ray (13): | 0.000235 | |
| Super Trend (3,10): | 0.008307 | |
| Zig ZAG (10): | 0.009280 | |
| VORTEX (21): | 0.9984 | |
| Stochastique (14,3,5): | 61.40 | |
| TEMA (21): | 0.008869 | |
| Williams %R (14): | -6.67 | |
| Chande Momentum Oscillator (20): | -0.000048 | |
| Repulse (5,40,3): | 5.7384 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0274 | |
| Courbe Coppock: | 5.92 |
| MA7: | 0.008835 | |
| MA20: | 0.008201 | |
| MA50: | 0.008781 | |
| MA100: | 0.010030 | |
| MAexp7: | 0.008934 | |
| MAexp20: | 0.008898 | |
| MAexp50: | 0.008773 | |
| MAexp100: | 0.008653 | |
| Price / MA7: | +5.23% | |
| Price / MA20: | +13.36% | |
| Price / MA50: | +5.88% | |
| Price / MA100: | -7.31% | |
| Price / MAexp7: | +4.06% | |
| Price / MAexp20: | +4.48% | |
| Price / MAexp50: | +5.97% | |
| Price / MAexp100: | +7.44% |
Quotes :
-
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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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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