WRAPPED BITCOIN - WBTC/USD - Daily - Technical analysis published on 09/05/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
39%
28%
My opinion
Bearish under 27,244.99 USD
My targets
23,641.00 USD (-8.34%)
20,231.10 USD (-21.56%)
My analysis
WRAPPED BITCOIN - WBTC/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 27,244.99 USD. The next support located at 23,641.00 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 20,231.10 USD. Below this support, sellers could then target 15,758.20 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WRAPPED BITCOIN - WBTC/USD rating 25,792.76 USD. The price is lower by -0.05% since the last closing and was between 25,587.67 USD and 25,820.78 USD. This implies that the price is at +0.80% from its lowest and at -0.11% from its highest.25,587.67
25,820.78
25,792.76
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
Here is a more detailed summary of the historical variations registered by WRAPPED BITCOIN - WBTC/USD:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WRAPPED BITCOIN - WBTC/USD in Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, of the 18 technical indicators analysed by Central Analyzer, 6 are bullish, 5 are neutral and 7 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near support of channel
Type : Bullish
Timeframe : Daily
Support of triangle is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20,231.10 | 23,641.00 | 25,553.40 | 25,792.76 | 27,244.99 | 29,737.30 | 31,514.63 |
| Change (%) | -21.56% | -8.34% | -0.93% | - | +5.63% | +15.29% | +22.18% |
| Change | -5,561.66 | -2,151.76 | -239.36 | - | +1,452.23 | +3,944.54 | +5,721.87 |
| Level | Major | Minor | Major | - | 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 | 25,267.38 | 25,456.26 | 25,631.04 | 25,819.92 | 25,994.70 | 26,183.58 | 26,358.36 |
| Camarilla | 25,705.81 | 25,739.15 | 25,772.49 | 25,805.82 | 25,839.16 | 25,872.49 | 25,905.83 |
| Woodie | 25,260.33 | 25,452.74 | 25,623.99 | 25,816.40 | 25,987.65 | 26,180.06 | 26,351.31 |
| Fibonacci | 25,456.26 | 25,595.18 | 25,681.00 | 25,819.92 | 25,958.84 | 26,044.66 | 26,183.58 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22,106.93 | 23,742.93 | 24,793.70 | 26,429.70 | 27,480.47 | 29,116.47 | 30,167.24 |
| Camarilla | 25,105.61 | 25,351.90 | 25,598.18 | 25,844.47 | 26,090.76 | 26,337.05 | 26,583.33 |
| Woodie | 21,814.32 | 23,596.62 | 24,501.09 | 26,283.39 | 27,187.86 | 28,970.16 | 29,874.63 |
| Fibonacci | 23,742.93 | 24,769.28 | 25,403.35 | 26,429.70 | 27,456.05 | 28,090.12 | 29,116.47 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19,726.27 | 22,664.09 | 24,309.17 | 27,246.99 | 28,892.07 | 31,829.89 | 33,474.97 |
| Camarilla | 24,693.96 | 25,114.06 | 25,534.16 | 25,954.26 | 26,374.36 | 26,794.46 | 27,214.56 |
| Woodie | 19,079.91 | 22,340.91 | 23,662.81 | 26,923.81 | 28,245.71 | 31,506.71 | 32,828.61 |
| Fibonacci | 22,664.09 | 24,414.75 | 25,496.32 | 27,246.99 | 28,997.65 | 30,079.22 | 31,829.89 |
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): | 35.58 | |
| MACD (12,26,9): | -650.9800 | |
| Directional Movement: | -12.33 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 25,693.98 | |
| Parabolic SAR (0,02-0,02-0,2): | 27,197.81 | |
| Elder Ray (13): | -556.31 | |
| Super Trend (3,10): | 25,466.99 | |
| Zig ZAG (10): | 25,762.96 | |
| VORTEX (21): | 0.7400 | |
| Stochastique (14,3,5): | 17.02 | |
| TEMA (21): | 25,592.45 | |
| Williams %R (14): | -85.64 | |
| Chande Momentum Oscillator (20): | -398.70 | |
| Repulse (5,40,3): | -0.5900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3700 | |
| Courbe Coppock: | 2.81 |
| MA7: | 26,103.78 | |
| MA20: | 26,229.31 | |
| MA50: | 28,132.44 | |
| MA100: | 28,407.42 | |
| MAexp7: | 26,009.12 | |
| MAexp20: | 26,591.10 | |
| MAexp50: | 27,604.69 | |
| MAexp100: | 27,849.48 | |
| Price / MA7: | -1.19% | |
| Price / MA20: | -1.66% | |
| Price / MA50: | -8.32% | |
| Price / MA100: | -9.20% | |
| Price / MAexp7: | -0.83% | |
| Price / MAexp20: | -3.00% | |
| Price / MAexp50: | -6.56% | |
| Price / MAexp100: | -7.39% |
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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