BITCOIN - BTC/USDT - 1H - Technical analysis published on 03/21/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
11%
67%
22%
My opinion
Bearish under 27,741.10 USDT
My targets
26,357.20 USDT (-4.17%)
24,441.20 USDT (-11.13%)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for BITCOIN - BTC/USDT as long as the price remains well below 27,741.10 USDT. The next bearish objective for sellers is set at 26,357.20 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 24,441.20 USDT. In case of crossing, the next objective would be the support located at 23,909.10 USDT. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 26,357.20 USDT. With this support, against the trend traders who want to buy BITCOIN - BTC/USDT on a buy signal from their trading strategy should not hesitate to act.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
2.1
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Additional analysis
Quotes
BITCOIN - BTC/USDT rating 27,502.90 USDT. The price is lower by -0.79% since the last closing with the lowest point at 27,310.56 USDT and the highest point at 27,962.53 USDT. The deviation from the price is +0.70% for the low point and -1.64% for the high point.27,310.56
27,962.53
27,502.90
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend 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:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BITCOIN - BTC/USDT chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are bearish. There is still some doubt about the decline in the price.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 23,909.10 | 24,441.20 | 26,357.20 | 27,502.90 | 27,741.10 | 28,459.50 | 29,848.90 |
| Change (%) | -13.07% | -11.13% | -4.17% | - | +0.87% | +3.48% | +8.53% |
| Change | -3,593.80 | -3,061.70 | -1,145.70 | - | +238.20 | +956.60 | +2,346.00 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25,758.91 | 26,446.74 | 27,083.84 | 27,771.67 | 28,408.77 | 29,096.60 | 29,733.70 |
| Camarilla | 27,356.57 | 27,478.03 | 27,599.48 | 27,720.93 | 27,842.38 | 27,963.83 | 28,085.29 |
| Woodie | 25,733.54 | 26,434.06 | 27,058.47 | 27,758.99 | 28,383.40 | 29,083.92 | 29,708.33 |
| Fibonacci | 26,446.74 | 26,952.87 | 27,265.55 | 27,771.67 | 28,277.80 | 28,590.48 | 29,096.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14,742.91 | 17,509.16 | 22,208.65 | 24,974.90 | 29,674.39 | 32,440.64 | 37,140.13 |
| Camarilla | 24,855.07 | 25,539.43 | 26,223.79 | 26,908.15 | 27,592.51 | 28,276.87 | 28,961.23 |
| Woodie | 15,709.54 | 17,992.47 | 23,175.28 | 25,458.21 | 30,641.02 | 32,923.95 | 38,106.76 |
| Fibonacci | 17,509.16 | 20,361.07 | 22,122.98 | 24,974.90 | 27,826.81 | 29,588.72 | 32,440.64 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17,815.47 | 19,588.53 | 21,694.97 | 23,468.03 | 25,574.47 | 27,347.53 | 29,453.97 |
| Camarilla | 22,734.54 | 23,090.16 | 23,445.78 | 23,801.40 | 24,157.02 | 24,512.64 | 24,868.26 |
| Woodie | 17,982.15 | 19,671.88 | 21,861.65 | 23,551.38 | 25,741.15 | 27,430.88 | 29,620.65 |
| Fibonacci | 19,588.53 | 21,070.50 | 21,986.06 | 23,468.03 | 24,950.00 | 25,865.56 | 27,347.53 |
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): | 40.97 | |
| MACD (12,26,9): | -46.8100 | |
| Directional Movement: | -9.33 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 27,727.65 | |
| Parabolic SAR (0,02-0,02-0,2): | 28,152.39 | |
| Elder Ray (13): | -228.19 | |
| Super Trend (3,10): | 27,235.47 | |
| Zig ZAG (10): | 27,483.64 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 17.16 | |
| TEMA (21): | 27,612.91 | |
| Williams %R (14): | -81.22 | |
| Chande Momentum Oscillator (20): | -522.00 | |
| Repulse (5,40,3): | -0.7800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 1.20 |
| MA7: | 26,673.76 | |
| MA20: | 23,772.12 | |
| MA50: | 23,444.77 | |
| MA100: | 20,780.07 | |
| MAexp7: | 27,648.54 | |
| MAexp20: | 27,759.43 | |
| MAexp50: | 27,659.75 | |
| MAexp100: | 27,111.35 | |
| Price / MA7: | +3.11% | |
| Price / MA20: | +15.69% | |
| Price / MA50: | +17.31% | |
| Price / MA100: | +32.35% | |
| Price / MAexp7: | -0.53% | |
| Price / MAexp20: | -0.92% | |
| Price / MAexp50: | -0.57% | |
| Price / MAexp100: | +1.44% |
Quotes :
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Real time data
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Cryptocompare
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