BITCOIN - BTC/USDT - 1H - Technical analysis published on 03/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 65,737.84 USDT
My targets
62,415.69 USDT (-1.66%)
59,009.64 USDT (-7.03%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 65,737.84 USDT remains possible. It is advisable to trade BITCOIN - BTC/USDT with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 65,737.84 USDT. The next bearish objective for sellers is set at 62,415.69 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 59,009.64 USDT. In case of crossing, the next objective would be the support located at 50,745.69 USDT. PS: if there is a bullish break in the resistance located at 65,737.84 USDT we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.3
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This analysis was given by Medhanie. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USDT price is 63,471.30 USDT. On the day, this instrument gained +2.48% and was between 60,785.41 USDT and 64,338.07 USDT. This implies that the price is at +4.42% from its lowest and at -1.35% from its highest.60,785.41
64,338.07
63,471.30
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this BITCOIN - BTC/USDT chart shows a bearish trend. The signals given by moving averages are 75.00% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 44,055.04 | 50,745.69 | 62,415.69 | 63,471.30 | 65,737.84 | 67,514.20 | 68,773.34 |
| Change (%) | -30.59% | -20.05% | -1.66% | - | +3.57% | +6.37% | +8.35% |
| Change | -19,416.26 | -12,725.61 | -1,055.61 | - | +2,266.54 | +4,042.90 | +5,302.04 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 53,063.54 | 57,311.44 | 59,624.58 | 63,872.48 | 66,185.62 | 70,433.52 | 72,746.66 |
| Camarilla | 60,133.44 | 60,734.87 | 61,336.30 | 61,937.73 | 62,539.16 | 63,140.59 | 63,742.02 |
| Woodie | 52,096.17 | 56,827.75 | 58,657.21 | 63,388.79 | 65,218.25 | 69,949.83 | 71,779.29 |
| Fibonacci | 57,311.44 | 59,817.75 | 61,366.16 | 63,872.48 | 66,378.79 | 67,927.20 | 70,433.52 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.56 | |
| MACD (12,26,9): | -325.2300 | |
| Directional Movement: | 2.45 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 62,628.17 | |
| Parabolic SAR (0,02-0,02-0,2): | 60,988.33 | |
| Elder Ray (13): | 460.22 | |
| Super Trend (3,10): | 64,713.48 | |
| Zig ZAG (10): | 63,463.70 | |
| VORTEX (21): | 0.9600 | |
| Stochastique (14,3,5): | 81.88 | |
| TEMA (21): | 63,009.65 | |
| Williams %R (14): | -25.05 | |
| Chande Momentum Oscillator (20): | 1,088.49 | |
| Repulse (5,40,3): | 0.3000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1400 | |
| Courbe Coppock: | 0.38 |
| MA7: | 66,812.32 | |
| MA20: | 67,098.22 | |
| MA50: | 56,611.95 | |
| MA100: | 49,732.61 | |
| MAexp7: | 63,277.62 | |
| MAexp20: | 63,225.82 | |
| MAexp50: | 64,353.40 | |
| MAexp100: | 65,812.46 | |
| Price / MA7: | -5.00% | |
| Price / MA20: | -5.41% | |
| Price / MA50: | +12.12% | |
| Price / MA100: | +27.63% | |
| Price / MAexp7: | +0.31% | |
| Price / MAexp20: | +0.39% | |
| Price / MAexp50: | -1.37% | |
| Price / MAexp100: | -3.56% |
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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