BITDAO - BIT/USDT - 1H - Technical analysis published on 02/22/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
BITDAO - BIT/USDT Chart
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
6%
72%
22%
My opinion
Bearish under 0.596500 USDT
My targets
0.579300 USDT (-0.94%)
0.570750 USDT (-2.40%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BITDAO - BIT/USDT as long as the price remains well below 0.596500 USDT. The sellers' bearish objective is set at 0.579300 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.570750 USDT. In case of crossing, the next objective would be the support located at 0.547500 USDT. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.9
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This analysis was given by finacian.
Additional analysis
Quotes
BITDAO - BIT/USDT rating 0.584800 USDT. The price is lower by -4.16% since the last closing and was between 0.582500 USDT and 0.611200 USDT. This implies that the price is at +0.39% from its lowest and at -4.32% from its highest.0.582500
0.611200
0.584800
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this 1H chart of BITDAO - BIT/USDT indicates that the overall trend is strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.547500 | 0.570750 | 0.579300 | 0.584800 | 0.596500 | 0.617000 | 0.625586 |
| Change (%) | -6.38% | -2.40% | -0.94% | - | +2.00% | +5.51% | +6.97% |
| Change | -0.037300 | -0.014050 | -0.005500 | - | +0.011700 | +0.032200 | +0.040786 |
| Level | Minor | Minor | Intermediate | - | Major | Minor | Major |
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 | 0.558467 | 0.580733 | 0.595467 | 0.617733 | 0.632467 | 0.654733 | 0.669467 |
| Camarilla | 0.600025 | 0.603417 | 0.606808 | 0.610200 | 0.613592 | 0.616983 | 0.620375 |
| Woodie | 0.554700 | 0.578850 | 0.591700 | 0.615850 | 0.628700 | 0.652850 | 0.665700 |
| Fibonacci | 0.580733 | 0.594867 | 0.603599 | 0.617733 | 0.631867 | 0.640599 | 0.654733 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.477900 | 0.512700 | 0.556400 | 0.591200 | 0.634900 | 0.669700 | 0.713400 |
| Camarilla | 0.578513 | 0.585708 | 0.592904 | 0.600100 | 0.607296 | 0.614492 | 0.621688 |
| Woodie | 0.482350 | 0.514925 | 0.560850 | 0.593425 | 0.639350 | 0.671925 | 0.717850 |
| Fibonacci | 0.512700 | 0.542687 | 0.561213 | 0.591200 | 0.621187 | 0.639713 | 0.669700 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.186400 | 0.281100 | 0.404100 | 0.498800 | 0.621800 | 0.716500 | 0.839500 |
| Camarilla | 0.467233 | 0.487188 | 0.507144 | 0.527100 | 0.547056 | 0.567012 | 0.586968 |
| Woodie | 0.200550 | 0.288175 | 0.418250 | 0.505875 | 0.635950 | 0.723575 | 0.853650 |
| Fibonacci | 0.281100 | 0.364261 | 0.415639 | 0.498800 | 0.581961 | 0.633339 | 0.716500 |
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): | 27.47 | |
| MACD (12,26,9): | -0.0093 | |
| Directional Movement: | -29.600542 | |
| AROON (14): | -85.714286 | |
| DEMA (21): | 0.587352 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.592449 | |
| Elder Ray (13): | -0.009740 | |
| Super Trend (3,10): | 0.599210 | |
| Zig ZAG (10): | 0.586100 | |
| VORTEX (21): | 0.7936 | |
| Stochastique (14,3,5): | 7.57 | |
| TEMA (21): | 0.583331 | |
| Williams %R (14): | -88.54 | |
| Chande Momentum Oscillator (20): | -0.021800 | |
| Repulse (5,40,3): | -0.2599 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1865 | |
| Courbe Coppock: | 6.76 |
| MA7: | 0.604586 | |
| MA20: | 0.585835 | |
| MA50: | 0.535762 | |
| MA100: | 0.419710 | |
| MAexp7: | 0.588784 | |
| MAexp20: | 0.599059 | |
| MAexp50: | 0.610295 | |
| MAexp100: | 0.611185 | |
| Price / MA7: | -3.27% | |
| Price / MA20: | -0.18% | |
| Price / MA50: | +9.15% | |
| Price / MA100: | +39.33% | |
| Price / MAexp7: | -0.68% | |
| Price / MAexp20: | -2.38% | |
| Price / MAexp50: | -4.18% | |
| Price / MAexp100: | -4.32% |
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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