WRAPPED BITCOIN - WBTC/USD - 1H - Technical analysis published on 08/07/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
44%
28%
28%
My opinion
Bearish under 29,508.20 USD
My targets
28,763.90 USD (-1.08%)
27,245.00 USD (-6.30%)
My analysis
The basic trend is bearish on WRAPPED BITCOIN - WBTC/USD and in the short term, the price is trying to rebound. For the time being, this is only a technical rebound and the basic trend is not threatened. To have the rebound confirmed, it would have at least to go back above the 29,508.20 USD. Buyers would then use the next resistance located at 29,910.60 USD as an objective. Crossing it would then enable buyers to target 30,516.30 USD. If there is a return to below the support located at 28,763.90 USD, this would be a sign of a reversal in the basic bearish trend. The next bearish objectives would be 27,245.00 USD and 25,553.40 USD by extension.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
1.3
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Additional analysis
Quotes
WRAPPED BITCOIN - WBTC/USD rating 29,077.24 USD. The price registered a decrease of -0.13% on the session and was traded between 28,270.02 USD and 29,159.31 USD over the period. The price is currently at +2.86% from its lowest and -0.28% from its highest.28,270.02
29,159.31
29,077.24
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WRAPPED BITCOIN - WBTC/USD:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of WRAPPED BITCOIN - WBTC/USD indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently given by short-term moving averages show a possible weakening of the global trend. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
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 | 27,245.00 | 28,763.90 | 28,935.10 | 29,077.24 | 29,185.90 | 29,508.20 | 29,910.60 |
| Change (%) | -6.30% | -1.08% | -0.49% | - | +0.37% | +1.48% | +2.87% |
| Change | -1,832.24 | -313.34 | -142.14 | - | +108.66 | +430.96 | +833.36 |
| Level | Intermediate | Minor | Intermediate | - | Major | Intermediate | 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 | 28,758.83 | 28,860.22 | 28,987.05 | 29,088.44 | 29,215.27 | 29,316.66 | 29,443.49 |
| Camarilla | 29,051.13 | 29,072.05 | 29,092.97 | 29,113.89 | 29,134.81 | 29,155.73 | 29,176.65 |
| Woodie | 28,771.56 | 28,866.58 | 28,999.78 | 29,094.80 | 29,228.00 | 29,323.02 | 29,456.22 |
| Fibonacci | 28,860.22 | 28,947.40 | 29,001.26 | 29,088.44 | 29,175.62 | 29,229.48 | 29,316.66 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27,422.41 | 28,093.15 | 28,569.11 | 29,239.85 | 29,715.81 | 30,386.55 | 30,862.51 |
| Camarilla | 28,729.72 | 28,834.83 | 28,939.95 | 29,045.06 | 29,150.17 | 29,255.29 | 29,360.40 |
| Woodie | 27,325.01 | 28,044.46 | 28,471.71 | 29,191.16 | 29,618.41 | 30,337.86 | 30,765.11 |
| Fibonacci | 28,093.15 | 28,531.19 | 28,801.81 | 29,239.85 | 29,677.89 | 29,948.51 | 30,386.55 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25,236.90 | 27,058.00 | 28,140.80 | 29,961.90 | 31,044.70 | 32,865.80 | 33,948.60 |
| Camarilla | 28,425.03 | 28,691.22 | 28,957.41 | 29,223.60 | 29,489.79 | 29,755.98 | 30,022.17 |
| Woodie | 24,867.75 | 26,873.43 | 27,771.65 | 29,777.33 | 30,675.55 | 32,681.23 | 33,579.45 |
| Fibonacci | 27,058.00 | 28,167.29 | 28,852.61 | 29,961.90 | 31,071.19 | 31,756.51 | 32,865.80 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.20 | |
| MACD (12,26,9): | -22.4900 | |
| Directional Movement: | -25.13 | |
| AROON (14): | -14.28 | |
| DEMA (21): | 28,989.91 | |
| Parabolic SAR (0,02-0,02-0,2): | 28,287.18 | |
| Elder Ray (13): | 33.75 | |
| Super Trend (3,10): | 29,112.68 | |
| Zig ZAG (10): | 29,004.92 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 83.46 | |
| TEMA (21): | 28,972.80 | |
| Williams %R (14): | -15.35 | |
| Chande Momentum Oscillator (20): | -15.02 | |
| Repulse (5,40,3): | 0.3200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.62 |
| MA7: | 29,183.37 | |
| MA20: | 29,379.03 | |
| MA50: | 29,890.39 | |
| MA100: | 28,543.80 | |
| MAexp7: | 28,995.91 | |
| MAexp20: | 29,016.64 | |
| MAexp50: | 29,044.68 | |
| MAexp100: | 29,085.72 | |
| Price / MA7: | -0.36% | |
| Price / MA20: | -1.03% | |
| Price / MA50: | -2.72% | |
| Price / MA100: | +1.87% | |
| Price / MAexp7: | +0.28% | |
| Price / MAexp20: | +0.21% | |
| Price / MAexp50: | +0.11% | |
| Price / MAexp100: | -0.03% |
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.
About author
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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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