BITCOIN - BTC/USDT - 1H - Technical analysis published on 07/08/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 9,289.31 USDT
My targets
9,684.99 USDT (+2.75%)
10,312.10 USDT (+9.40%)
My analysis
The bullish trend is currently very strong on BITCOIN - BTC/USDT. As long as the price remains above the support at 9,289.31 USDT, you could try to benefit from the boom. The first bullish objective is located at 9,684.99 USDT. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 10,312.10 USDT as an objective. Crossing it would then enable buyers to target 13,093.50 USDT. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
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This analysis was given by Addareea. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USDT rating is 9,425.65 USDT. On the day, this instrument gained +1.83% and was between 9,233.02 USDT and 9,466.86 USDT. This implies that the price is at +2.09% from its lowest and at -0.44% from its highest.9,233.02
9,466.86
9,425.65
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
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 BITCOIN - BTC/USDT in 1H shows a strongly overall bullish trend. 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 9,187.14 | 9,289.31 | 9,373.42 | 9,425.65 | 9,684.99 | 10,312.10 | 13,093.50 |
Change (%) | -2.53% | -1.45% | -0.55% | - | +2.75% | +9.40% | +38.91% |
Change | -238.51 | -136.34 | -52.23 | - | +259.34 | +886.45 | +3,667.85 |
Level | Intermediate | Intermediate | Minor | - | Minor | Major | Intermediate |
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 | 6,482.74 | 6,911.46 | 7,190.53 | 7,619.25 | 7,898.32 | 8,327.04 | 8,606.11 |
Camarilla | 7,274.97 | 7,339.85 | 7,404.73 | 7,469.61 | 7,534.49 | 7,599.37 | 7,664.25 |
Woodie | 6,407.93 | 6,874.05 | 7,115.72 | 7,581.84 | 7,823.51 | 8,289.63 | 8,531.30 |
Fibonacci | 6,911.46 | 7,181.83 | 7,348.87 | 7,619.25 | 7,889.62 | 8,056.66 | 8,327.04 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 8,619.65 | 8,784.57 | 8,960.10 | 9,125.02 | 9,300.55 | 9,465.47 | 9,641.00 |
Camarilla | 9,042.00 | 9,073.20 | 9,104.41 | 9,135.62 | 9,166.83 | 9,198.04 | 9,229.24 |
Woodie | 8,624.95 | 8,787.22 | 8,965.40 | 9,127.67 | 9,305.85 | 9,468.12 | 9,646.30 |
Fibonacci | 8,784.57 | 8,914.63 | 8,994.97 | 9,125.02 | 9,255.08 | 9,335.42 | 9,465.47 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 7,673.85 | 7,507.01 | 8,381.64 | 8,214.80 | 9,089.43 | 8,922.59 | 9,797.22 |
Camarilla | 9,061.63 | 9,126.51 | 9,191.39 | 9,256.27 | 9,321.15 | 9,386.03 | 9,450.91 |
Woodie | 8,194.58 | 7,767.38 | 8,902.37 | 8,475.17 | 9,610.17 | 9,182.96 | 10,317.96 |
Fibonacci | 7,507.01 | 7,777.39 | 7,944.42 | 8,214.80 | 8,485.18 | 8,652.21 | 8,922.59 |
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): | 65.41 | |
MACD (12,26,9): | 37.8100 | |
Directional Movement: | 17.63 | |
AROON (14): | 64.28 | |
DEMA (21): | 9,364.92 | |
Parabolic SAR (0,02-0,02-0,2): | 9,231.78 | |
Elder Ray (13): | 61.96 | |
Super Trend (3,10): | 9,286.83 | |
Zig ZAG (10): | 9,415.00 | |
VORTEX (21): | 1.1300 | |
Stochastique (14,3,5): | 83.42 | |
TEMA (21): | 9,389.46 | |
Williams %R (14): | -16.50 | |
Chande Momentum Oscillator (20): | 137.13 | |
Repulse (5,40,3): | 0.4900 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0300 | |
Courbe Coppock: | 2.31 |
MA7: | 8,965.07 | |
MA20: | 9,154.05 | |
MA50: | 9,331.49 | |
MA100: | 8,686.46 | |
MAexp7: | 9,386.75 | |
MAexp20: | 9,323.29 | |
MAexp50: | 9,276.41 | |
MAexp100: | 9,229.16 | |
Price / MA7: | +5.14% | |
Price / MA20: | +2.97% | |
Price / MA50: | +1.01% | |
Price / MA100: | +8.51% | |
Price / MAexp7: | +0.41% | |
Price / MAexp20: | +1.10% | |
Price / MAexp50: | +1.61% | |
Price / MAexp100: | +2.13% |
Quotes :
2020-07-08 18:33:46
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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.
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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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