BITCOIN - BTC/USDT - Daily - Technical analysis published on 03/17/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 55,685.48 USDT
My targets
77,837.01 USDT (+13.89%)
91,637.81 USDT (+34.09%)
My analysis
The bullish trend is currently very strong on BITCOIN - BTC/USDT. As long as the price remains above the support at 55,685.48 USDT, you could try to benefit from the boom. The first bullish objective is located at 77,837.01 USDT. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 91,637.81 USDT as an objective. 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
7
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This analysis was given by chookich. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USDT rating is 68,342.69 USDT. The price registered an increase of +4.65% on the session with the lowest point at 64,552.64 USDT and the highest point at 68,686.78 USDT. The deviation from the price is +5.87% for the low point and -0.50% for the high point.64,552.64
68,686.78
68,342.69
The Central Gaps scanner detects a bearish opening. A small advantage for sellers 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
Technical analysis of this Daily chart of BITCOIN - BTC/USDT indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bullish. 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
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 47,273.05 | 50,745.69 | 67,514.20 | 68,342.69 |
| Change (%) | -30.83% | -25.75% | -1.21% | - |
| Change | -21,069.64 | -17,597.00 | -828.49 | - |
| Level | Major | Intermediate | Major | - |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 59.90 | |
| MACD (12,26,9): | 4,167.3500 | |
| Directional Movement: | 6.87 | |
| AROON (14): | 64.28 | |
| DEMA (21): | 71,480.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 73,392.41 | |
| Elder Ray (13): | -1,076.65 | |
| Super Trend (3,10): | 62,893.50 | |
| Zig ZAG (10): | 68,211.62 | |
| VORTEX (21): | 1.1600 | |
| Stochastique (14,3,5): | 55.76 | |
| TEMA (21): | 71,802.89 | |
| Williams %R (14): | -40.29 | |
| Chande Momentum Oscillator (20): | 4,485.12 | |
| Repulse (5,40,3): | 0.3900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 1.2500 | |
| Courbe Coppock: | 25.50 |
| MA7: | 70,130.19 | |
| MA20: | 66,466.47 | |
| MA50: | 55,311.73 | |
| MA100: | 49,087.94 | |
| MAexp7: | 68,716.66 | |
| MAexp20: | 65,601.45 | |
| MAexp50: | 58,078.06 | |
| MAexp100: | 51,238.17 | |
| Price / MA7: | -2.55% | |
| Price / MA20: | +2.82% | |
| Price / MA50: | +23.56% | |
| Price / MA100: | +39.23% | |
| Price / MAexp7: | -0.55% | |
| Price / MAexp20: | +4.18% | |
| Price / MAexp50: | +17.67% | |
| Price / MAexp100: | +33.38% |
Quotes :
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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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