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 05/24/2022 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Bearish
Underlying: Strongly bearish
Technical indicators
22%
33%
44%
My opinion
Bearish under 29,848.90 USDT
My targets
28,746.30 USDT (-1.77%)
25,488.17 USDT (-12.90%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BITCOIN - BTC/USDT as long as the price remains well below 29,848.90 USDT. The next bearish objective for sellers is set at 28,746.30 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 25,488.17 USDT. If there is any crossing, the next objective would be the support located at 10,151.30 USDT. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5

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 finacian. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The BITCOIN - BTC/USDT price is 29,263.27 USDT. On the day, this instrument gained +0.52% with the lowest point at 29,073.37 USDT and the highest point at 29,436.11 USDT. The deviation from the price is +0.65% for the low point and -0.59% for the high point.

29,073.37
29,436.11
29,263.27

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.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



A study of price movements over other periods shows the following variations:

Technical


Technical analysis of BITCOIN - BTC/USDT in 1H shows a overall strongly bearish trend. The signals given by moving averages are 82.14% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:

Central Indicators

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : 1 hour



An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour



The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:

Central Candlesticks

Bullish harami

Type : Bullish

Timeframe : 1 hour


Bullish harami cross

Type : Bullish

Timeframe : 1 hour


Doji

Type : Neutral

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 4,790.26 10,151.30 28,746.30 29,263.27 29,285.50 29,848.90 30,288.80
Change (%) -83.63% -65.31% -1.77% - +0.08% +2.00% +3.50%
Change -24,473.01 -19,111.97 -516.97 - +22.23 +585.63 +1,025.53
Level Minor Minor Intermediate - Intermediate Major Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard26,702.4027,802.7228,457.0029,557.3230,211.6031,311.9231,966.20
Camarilla28,628.7828,789.6128,950.4529,111.2929,272.1329,432.9729,593.81
Woodie26,479.3927,691.2128,233.9929,445.8129,988.5931,200.4131,743.19
Fibonacci27,802.7228,472.9728,887.0629,557.3230,227.5730,641.6631,311.92


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard25,488.1727,071.8928,260.7729,844.4931,033.3732,617.0933,805.97
Camarilla28,687.2028,941.3529,195.5129,449.6629,703.8229,957.9730,212.13
Woodie25,290.7626,973.1828,063.3629,745.7830,835.9632,518.3833,608.56
Fibonacci27,071.8928,131.0228,785.3529,844.4930,903.6231,557.9532,617.09


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard24,876.7331,241.9734,446.0340,811.2744,015.3350,380.5753,584.63
Camarilla35,018.5435,895.7336,772.9137,650.1038,527.2939,404.4740,281.66
Woodie23,296.1530,451.6832,865.4540,020.9842,434.7549,590.2852,004.05
Fibonacci31,241.9734,897.4437,155.7940,811.2744,466.7446,725.0950,380.57

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): 41.65
MACD (12,26,9): -149.9500
Directional Movement: -15.36
AROON (14): 28.57
DEMA (21): 29,192.07
Parabolic SAR (0,02-0,02-0,2): 28,991.66
Elder Ray (13): -65.84
Super Trend (3,10): 29,780.29
Zig ZAG (10): 29,261.05
VORTEX (21): 0.8000
Stochastique (14,3,5): 56.42
TEMA (21): 29,140.14
Williams %R (14): -58.78
Chande Momentum Oscillator (20): -12.72
Repulse (5,40,3): -0.4300
ROCnROLL: 2
TRIX (15,9): -0.1000
Courbe Coppock: 0.00
MA7: 29,475.94
MA20: 30,933.57
MA50: 36,602.98
MA100: 39,155.88
MAexp7: 29,287.88
MAexp20: 29,403.11
MAexp50: 29,612.37
MAexp100: 29,683.01
Price / MA7: -0.72%
Price / MA20: -5.40%
Price / MA50: -20.05%
Price / MA100: -25.26%
Price / MAexp7: -0.08%
Price / MAexp20: -0.48%
Price / MAexp50: -1.18%
Price / MAexp100: -1.41%

Quotes : - Real time data - Cryptocompare

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

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