BITCOIN - BTC/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCUSDT
ISIN:

BITCOIN - BTC/USDT - Daily - Technical analysis published on 03/17/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

39%

22%

39%

My opinion

Bullish above 55,685.48 USDT

My targets

69,486.28 USDT (+2.33%)

77,837.01 USDT (+14.63%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BITCOIN - BTC/USDT as long as the price remains well above 55,685.48 USDT. The buyers' bullish objective is set at 69,486.28 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 77,837.01 USDT. If there is any crossing, the next objective would be the resistance located at 91,637.81 USDT. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.

Force

6.6

Comment on the analysis

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 chookich. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BITCOIN - BTC/USDT rating 67,901.24 USDT. The price has increased by +3.98% since the last closing with the lowest point at 64,552.64 USDT and the highest point at 68,112.65 USDT. The deviation from the price is +5.19% for the low point and -0.31% for the high point.

64,552.64

68,112.65

67,901.24

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

Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USDT:

The study of the highest / lowest by the Central Records scanner shows the following results:

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

Technical analysis of this Daily chart of BITCOIN - BTC/USDT indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Daily

On the 18 technical indicators analysed, 7 are bullish, 7 are neutral and 4 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price
ProTrendLines	47,273.05	50,745.69	67,514.20	67,901.24
Change (%)	-30.38%	-25.27%	-0.57%	-
Change	-20,628.19	-17,155.55	-387.04	-
Level	Major	Intermediate	Major	-

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	58,154.82	61,480.62	63,392.08	66,717.88	68,629.34	71,955.14	73,866.60
Camarilla	63,863.28	64,343.37	64,823.45	65,303.53	65,783.61	66,263.69	66,743.78
Woodie	57,447.64	61,127.04	62,684.90	66,364.30	67,922.16	71,601.56	73,159.42
Fibonacci	61,480.62	63,481.26	64,717.25	66,717.88	68,718.52	69,954.51	71,955.14

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	53,212.86	59,009.64	62,156.59	67,953.37	71,100.32	76,897.10	80,044.05
Camarilla	62,844.00	63,663.85	64,483.69	65,303.53	66,123.37	66,943.21	67,763.06
Woodie	51,887.94	58,347.18	60,831.67	67,290.91	69,775.40	76,234.64	78,719.13
Fibonacci	59,009.64	62,426.15	64,536.87	67,953.37	71,369.88	73,480.60	76,897.10

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	25,183.22	33,533.95	47,334.75	55,685.48	69,486.28	77,837.01	91,637.81
Camarilla	55,043.89	57,074.45	59,105.00	61,135.56	63,166.12	65,196.67	67,227.23
Woodie	27,908.27	34,896.47	50,059.80	57,048.00	72,211.33	79,199.53	94,362.86
Fibonacci	33,533.95	41,995.83	47,223.59	55,685.48	64,147.36	69,375.12	77,837.01

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):	58.87
MACD (12,26,9):	4,115.1400
Directional Movement:	7.03
AROON (14):	64.28
DEMA (21):	71,372.40
Parabolic SAR (0,02-0,02-0,2):	73,392.41
Elder Ray (13):	-1,525.89
Super Trend (3,10):	62,893.50
Zig ZAG (10):	67,550.45
VORTEX (21):	1.1600
Stochastique (14,3,5):	54.10
TEMA (21):	71,629.07
Williams %R (14):	-45.60
Chande Momentum Oscillator (20):	3,765.86
Repulse (5,40,3):	-0.6500
ROCnROLL:	-1
TRIX (15,9):	1.2500
Courbe Coppock:	25.11

MA7:	70,035.84
MA20:	66,436.60
MA50:	55,299.19
MA100:	49,081.70
MAexp7:	68,548.89
MAexp20:	65,543.00
MAexp50:	58,053.20
MAexp100:	51,225.80
Price / MA7:	-3.05%
Price / MA20:	+2.20%
Price / MA50:	+22.79%
Price / MA100:	+38.34%
Price / MAexp7:	-0.94%
Price / MAexp20:	+3.60%
Price / MAexp50:	+16.96%
Price / MAexp100:	+32.55%

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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