WRAPPED BITCOIN - WBTC/USD - 1H - Technical analysis published on 01/09/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
17%
33%
My opinion
Bullish above 45,763.60 USD
My targets
47,492.80 USD (+1.86%)
50,333.50 USD (+7.95%)
My analysis
WRAPPED BITCOIN - WBTC/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 45,763.60 USD. The next resistance located at 47,492.80 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 50,333.50 USD. After this resistance, buyers could then target 52,679.50 USD. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.1
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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 WRAPPED BITCOIN - WBTC/USD price is 46,625.45 USD. On the day, this instrument lost -0.36% and was between 46,181.88 USD and 47,060.46 USD. This implies that the price is at +0.96% from its lowest and at -0.92% from its highest.46,181.88
47,060.46
46,625.45
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of WRAPPED BITCOIN - WBTC/USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from 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 9 technical indicators out of 18 analysed are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Aroon indicator bearish trend
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 43,189.55 | 44,070.67 | 45,763.60 | 46,625.45 | 46,799.80 | 47,492.80 | 52,679.50 |
| Change (%) | -7.37% | -5.48% | -1.85% | - | +0.37% | +1.86% | +12.98% |
| Change | -3,435.90 | -2,554.78 | -861.85 | - | +174.35 | +867.35 | +6,054.05 |
| Level | Intermediate | Major | Minor | - | Intermediate | 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 | 40,265.91 | 41,729.49 | 44,262.07 | 45,725.65 | 48,258.23 | 49,721.81 | 52,254.39 |
| Camarilla | 45,695.72 | 46,062.03 | 46,428.35 | 46,794.66 | 47,160.98 | 47,527.29 | 47,893.60 |
| Woodie | 40,800.42 | 41,996.74 | 44,796.58 | 45,992.90 | 48,792.74 | 49,989.06 | 52,788.90 |
| Fibonacci | 41,729.49 | 43,256.02 | 44,199.11 | 45,725.65 | 47,252.18 | 48,195.27 | 49,721.81 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 33,659.54 | 36,861.72 | 40,395.43 | 43,597.61 | 47,131.32 | 50,333.50 | 53,867.21 |
| Camarilla | 42,076.76 | 42,694.22 | 43,311.67 | 43,929.13 | 44,546.59 | 45,164.04 | 45,781.50 |
| Woodie | 33,825.30 | 36,944.60 | 40,561.19 | 43,680.49 | 47,297.08 | 50,416.38 | 54,032.97 |
| Fibonacci | 36,861.72 | 39,434.83 | 41,024.50 | 43,597.61 | 46,170.72 | 47,760.39 | 50,333.50 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30,271.48 | 33,941.19 | 38,102.09 | 41,771.80 | 45,932.70 | 49,602.41 | 53,763.31 |
| Camarilla | 40,109.58 | 40,827.39 | 41,545.19 | 42,263.00 | 42,980.81 | 43,698.61 | 44,416.42 |
| Woodie | 30,517.09 | 34,063.99 | 38,347.70 | 41,894.60 | 46,178.31 | 49,725.21 | 54,008.92 |
| Fibonacci | 33,941.19 | 36,932.48 | 38,780.50 | 41,771.80 | 44,763.09 | 46,611.11 | 49,602.41 |
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): | 66.81 | |
| MACD (12,26,9): | 571.6400 | |
| Directional Movement: | 15.14 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 47,113.21 | |
| Parabolic SAR (0,02-0,02-0,2): | 46,668.48 | |
| Elder Ray (13): | 191.98 | |
| Super Trend (3,10): | 45,834.75 | |
| Zig ZAG (10): | 46,829.05 | |
| VORTEX (21): | 1.2700 | |
| Stochastique (14,3,5): | 70.79 | |
| TEMA (21): | 47,225.53 | |
| Williams %R (14): | -32.74 | |
| Chande Momentum Oscillator (20): | -186.03 | |
| Repulse (5,40,3): | 0.2200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2100 | |
| Courbe Coppock: | 3.26 |
| MA7: | 44,626.94 | |
| MA20: | 43,733.30 | |
| MA50: | 41,847.85 | |
| MA100: | 37,114.40 | |
| MAexp7: | 46,785.72 | |
| MAexp20: | 46,324.64 | |
| MAexp50: | 45,403.58 | |
| MAexp100: | 44,734.43 | |
| Price / MA7: | +4.48% | |
| Price / MA20: | +6.61% | |
| Price / MA50: | +11.42% | |
| Price / MA100: | +25.63% | |
| Price / MAexp7: | -0.34% | |
| Price / MAexp20: | +0.65% | |
| Price / MAexp50: | +2.69% | |
| Price / MAexp100: | +4.23% |
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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