BITCOIN - BTC/USDT - Daily - Technical analysis published on 09/07/2021 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
11%
39%
50%
My opinion
Bullish above 40,537.80 USDT
My targets
49,520.80 USDT (+5.56%)
53,333.70 USDT (+13.69%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on BITCOIN - BTC/USDT. As long as you are above the support located at 40,537.80 USDT, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 49,520.80 USDT would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 53,333.70 USDT as an objective. Crossing it would then enable buyers to target 55,892.60 USDT. If the support 40,537.80 USDT were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
Force
0
10
2.3
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This analysis was given by finacian. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USDT price is 46,912.25 USDT. The price is lower by -10.91% since the last closing and was traded between 45,084.92 USDT and 52,910.07 USDT over the period. The price is currently at +4.05% from its lowest and -11.34% from its highest.45,084.92
52,910.07
46,912.25
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 BITCOIN - BTC/USDT in Daily shows an overall bullish trend. The signals given by moving averages are 75.00% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of channel is broken
Type : Bullish
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 | 29,900.10 | 35,840.60 | 40,537.80 | 46,912.25 | 49,520.80 | 53,333.70 | 55,892.60 |
| Change (%) | -36.26% | -23.60% | -13.59% | - | +5.56% | +13.69% | +19.14% |
| Change | -17,012.15 | -11,071.65 | -6,374.45 | - | +2,608.55 | +6,421.45 | +8,980.35 |
| Level | Major | Minor | Major | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 49,835.59 | 50,438.13 | 51,551.56 | 52,154.10 | 53,267.53 | 53,870.07 | 54,983.50 |
| Camarilla | 52,193.10 | 52,350.40 | 52,507.69 | 52,664.99 | 52,822.29 | 52,979.59 | 53,136.88 |
| Woodie | 50,091.04 | 50,565.85 | 51,807.01 | 52,281.82 | 53,522.98 | 53,997.79 | 55,238.95 |
| Fibonacci | 50,438.13 | 51,093.63 | 51,498.60 | 52,154.10 | 52,809.60 | 53,214.57 | 53,870.07 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42,841.49 | 44,683.75 | 47,298.69 | 49,140.95 | 51,755.89 | 53,598.15 | 56,213.09 |
| Camarilla | 48,687.91 | 49,096.49 | 49,505.06 | 49,913.64 | 50,322.22 | 50,730.79 | 51,139.37 |
| Woodie | 43,227.84 | 44,876.92 | 47,685.04 | 49,334.12 | 52,142.24 | 53,791.32 | 56,599.44 |
| Fibonacci | 44,683.75 | 46,386.40 | 47,438.30 | 49,140.95 | 50,843.60 | 51,895.50 | 53,598.15 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26,451.67 | 31,930.53 | 39,523.07 | 45,001.93 | 52,594.47 | 58,073.33 | 65,665.87 |
| Camarilla | 43,520.97 | 44,719.18 | 45,917.39 | 47,115.60 | 48,313.81 | 49,512.02 | 50,710.24 |
| Woodie | 27,508.50 | 32,458.95 | 40,579.90 | 45,530.35 | 53,651.30 | 58,601.75 | 66,722.70 |
| Fibonacci | 31,930.53 | 36,923.81 | 40,008.66 | 45,001.93 | 49,995.21 | 53,080.06 | 58,073.33 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.54 | |
| MACD (12,26,9): | 1,588.8600 | |
| Directional Movement: | -5.65 | |
| AROON (14): | 0 | |
| DEMA (21): | 50,767.20 | |
| Parabolic SAR (0,02-0,02-0,2): | 52,756.64 | |
| Elder Ray (13): | -212.26 | |
| Super Trend (3,10): | 45,837.42 | |
| Zig ZAG (10): | 47,169.85 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 72.91 | |
| TEMA (21): | 50,183.43 | |
| Williams %R (14): | -76.54 | |
| Chande Momentum Oscillator (20): | -24.70 | |
| Repulse (5,40,3): | -10.0000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.5700 | |
| Courbe Coppock: | 6.18 |
| MA7: | 50,351.37 | |
| MA20: | 48,885.62 | |
| MA50: | 44,069.62 | |
| MA100: | 39,451.27 | |
| MAexp7: | 50,381.93 | |
| MAexp20: | 48,451.39 | |
| MAexp50: | 45,116.71 | |
| MAexp100: | 43,238.29 | |
| Price / MA7: | -6.83% | |
| Price / MA20: | -4.04% | |
| Price / MA50: | +6.45% | |
| Price / MA100: | +18.91% | |
| Price / MAexp7: | -6.88% | |
| Price / MAexp20: | -3.17% | |
| Price / MAexp50: | +3.98% | |
| Price / MAexp100: | +8.50% |
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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