BITCOIN - BTC/USDT - Daily - Technical analysis published on 04/16/2024 (GMT)
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
11%
78%
11%
My opinion
Bearish under
My targets
()
()
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 . The next bearish objective for sellers is set at . A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at . In case of crossing, the next objective would be the support located at . As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at . 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.
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
0
10
2.5
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This analysis was given by mh572. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USDT price is 62,802.51 USDT. On the day, this instrument lost -0.98% with the lowest point at 61,635.55 USDT and the highest point at 63,890.50 USDT. The deviation from the price is +1.89% for the low point and -1.70% for the high point.61,635.55
63,890.50
62,802.51
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BITCOIN - BTC/USDT in Daily shows an overall slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 31,491.54 | 39,567.66 | 47,337.43 | 62,802.51 | 67,514.20 | 73,074.27 |
| Change (%) | -49.86% | -37.00% | -24.62% | - | +7.50% | +16.36% |
| Change | -31,310.97 | -23,234.85 | -15,465.08 | - | +4,711.69 | +10,271.76 |
| Level | Intermediate | Intermediate | Major | - | Major | Intermediate |
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 | 57,028.12 | 59,668.85 | 61,547.23 | 64,187.96 | 66,066.34 | 68,707.07 | 70,585.45 |
| Camarilla | 62,182.87 | 62,597.12 | 63,011.37 | 63,425.62 | 63,839.87 | 64,254.12 | 64,668.38 |
| Woodie | 56,646.96 | 59,478.26 | 61,166.07 | 63,997.37 | 65,685.18 | 68,516.48 | 70,204.29 |
| Fibonacci | 59,668.85 | 61,395.15 | 62,461.66 | 64,187.96 | 65,914.26 | 66,980.77 | 68,707.07 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 48,413.10 | 55,056.44 | 59,483.28 | 66,126.62 | 70,553.46 | 77,196.80 | 81,623.64 |
| Camarilla | 60,865.81 | 61,880.58 | 62,895.34 | 63,910.11 | 64,924.88 | 65,939.64 | 66,954.41 |
| Woodie | 47,304.84 | 54,502.32 | 58,375.02 | 65,572.50 | 69,445.20 | 76,642.68 | 80,515.38 |
| Fibonacci | 55,056.44 | 59,285.25 | 61,897.82 | 66,126.62 | 70,355.43 | 72,968.00 | 77,196.80 |
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): | 40.87 | |
| MACD (12,26,9): | -493.7600 | |
| Directional Movement: | -9.89 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 66,941.54 | |
| Parabolic SAR (0,02-0,02-0,2): | 72,118.95 | |
| Elder Ray (13): | -3,850.06 | |
| Super Trend (3,10): | 73,223.29 | |
| Zig ZAG (10): | 62,896.84 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 20.79 | |
| TEMA (21): | 64,855.95 | |
| Williams %R (14): | -89.86 | |
| Chande Momentum Oscillator (20): | -5,682.27 | |
| Repulse (5,40,3): | -3.7600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0900 | |
| Courbe Coppock: | 8.06 |
| MA7: | 66,231.21 | |
| MA20: | 68,075.01 | |
| MA50: | 67,164.09 | |
| MA100: | 56,460.81 | |
| MAexp7: | 65,419.40 | |
| MAexp20: | 67,023.18 | |
| MAexp50: | 64,681.84 | |
| MAexp100: | 58,549.09 | |
| Price / MA7: | -5.18% | |
| Price / MA20: | -7.75% | |
| Price / MA50: | -6.49% | |
| Price / MA100: | +11.23% | |
| Price / MAexp7: | -4.00% | |
| Price / MAexp20: | -6.30% | |
| Price / MAexp50: | -2.91% | |
| Price / MAexp100: | +7.26% |
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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