BITCOIN - BTC/USDT
BITCOIN - BTC/USDT
- USDT (-)
- Real time data - Cryptocompare
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Type: Cryptocurrencies
Ticker: BTCUSDT
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BITCOIN - BTC/USDT - 1H - Technical analysis published on 07/08/2020 (GMT)

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  • Timeframe : 1H
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  • 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

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Addareea. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

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.

Central Gaps

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:

Central Indicators

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

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

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:

Central Patterns

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:

Central Candlesticks

Bullish harami

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
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
Standard6,482.746,911.467,190.537,619.257,898.328,327.048,606.11
Camarilla7,274.977,339.857,404.737,469.617,534.497,599.377,664.25
Woodie6,407.936,874.057,115.727,581.847,823.518,289.638,531.30
Fibonacci6,911.467,181.837,348.877,619.257,889.628,056.668,327.04


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard8,619.658,784.578,960.109,125.029,300.559,465.479,641.00
Camarilla9,042.009,073.209,104.419,135.629,166.839,198.049,229.24
Woodie8,624.958,787.228,965.409,127.679,305.859,468.129,646.30
Fibonacci8,784.578,914.638,994.979,125.029,255.089,335.429,465.47


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7,673.857,507.018,381.648,214.809,089.438,922.599,797.22
Camarilla9,061.639,126.519,191.399,256.279,321.159,386.039,450.91
Woodie8,194.587,767.388,902.378,475.179,610.179,182.9610,317.96
Fibonacci7,507.017,777.397,944.428,214.808,485.188,652.218,922.59

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 - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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