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 04/12/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

56%

33%

My opinion

Bearish under 67,514.20 USDT

My targets

65,974.85 USDT (-1.33%)

65,069.99 USDT (-2.69%)

My analysis

BITCOIN - BTC/USDT is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 67,514.20 USDT. The next support located at 65,974.85 USDT is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 65,069.99 USDT. Below this support, sellers could then target 50,745.69 USDT. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

7.1

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 m6rga3. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BITCOIN - BTC/USDT rating 66,866.98 USDT. On the day, this instrument lost -4.49% and was between 65,805.48 USDT and 71,230.36 USDT. This implies that the price is at +1.61% from its lowest and at -6.13% from its highest.

65,805.48

71,230.36

66,866.98

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

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

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 sharp bearish trend. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 10 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : 1 hour

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 3

Type : Neutral

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near support of channel

Type : Bullish

Timeframe : 1 hour

For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Black evening star

Type : Bearish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	50,745.69	65,069.99	65,974.85	66,866.98	67,514.20	69,575.97	70,309.36
Change (%)	-24.11%	-2.69%	-1.33%	-	+0.97%	+4.05%	+5.15%
Change	-16,121.29	-1,796.99	-892.13	-	+647.22	+2,708.99	+3,442.38
Level	Minor	Minor	Minor	-	Major	Intermediate	Minor

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	67,562.52	68,567.23	69,287.61	70,292.32	71,012.70	72,017.41	72,737.79
Camarilla	69,533.59	69,691.72	69,849.86	70,007.99	70,166.12	70,324.26	70,482.39
Woodie	67,420.36	68,496.15	69,145.45	70,221.24	70,870.54	71,946.33	72,595.63
Fibonacci	68,567.23	69,226.21	69,633.34	70,292.32	70,951.30	71,358.43	72,017.41

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	58,359.82	61,457.01	65,176.51	68,273.70	71,993.20	75,090.39	78,809.89
Camarilla	67,021.43	67,646.29	68,271.16	68,896.02	69,520.88	70,145.75	70,770.61
Woodie	58,670.99	61,612.59	65,487.68	68,429.28	72,304.37	75,245.97	79,121.06
Fibonacci	61,457.01	64,060.98	65,669.72	68,273.70	70,877.67	72,486.41	75,090.39

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	49,192.79	54,597.00	62,941.73	68,345.94	76,690.67	82,094.88	90,439.61
Camarilla	67,505.49	68,765.81	70,026.13	71,286.45	72,546.77	73,807.09	75,067.41
Woodie	50,663.04	55,332.13	64,411.98	69,081.07	78,160.92	82,830.01	91,909.86
Fibonacci	54,597.00	59,849.10	63,093.85	68,345.94	73,598.04	76,842.79	82,094.88

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):	25.30
MACD (12,26,9):	-893.1800
Directional Movement:	-32.26
AROON (14):	-42.86
DEMA (21):	67,988.20
Parabolic SAR (0,02-0,02-0,2):	68,959.17
Elder Ray (13):	-1,517.78
Super Trend (3,10):	69,201.25
Zig ZAG (10):	66,773.73
VORTEX (21):	0.7500
Stochastique (14,3,5):	21.25
TEMA (21):	67,167.02
Williams %R (14):	-81.94
Chande Momentum Oscillator (20):	-3,915.64
Repulse (5,40,3):	-1.6300
ROCnROLL:	2
TRIX (15,9):	-0.0900
Courbe Coppock:	8.90

MA7:	69,494.79
MA20:	69,099.14
MA50:	66,213.85
MA100:	55,661.39
MAexp7:	67,625.53
MAexp20:	68,937.80
MAexp50:	69,633.61
MAexp100:	69,696.26
Price / MA7:	-3.78%
Price / MA20:	-3.23%
Price / MA50:	+0.99%
Price / MA100:	+20.13%
Price / MAexp7:	-1.12%
Price / MAexp20:	-3.00%
Price / MAexp50:	-3.97%
Price / MAexp100:	-4.06%

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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