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 05/01/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Bearish

Technical indicators

11%

67%

22%

My opinion

Bearish under 61,277.39 USDT

My targets

50,745.69 USDT (-11.54%)

47,337.43 USDT (-17.48%)

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 61,277.39 USDT. The next support located at 50,745.69 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 47,337.43 USDT. Below this support, sellers could then target 44,055.04 USDT.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

5.4

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 mh572. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BITCOIN - BTC/USDT rating 57,366.11 USDT. The price is lower by -5.45% since the last closing with the lowest point at 56,603.11 USDT and the highest point at 60,842.57 USDT. The deviation from the price is +1.35% for the low point and -5.71% for the high point.

56,603.11

60,842.57

57,366.11

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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:

The Central Records scanner for higher/lower results shows an item:

New LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of BITCOIN - BTC/USDT in Daily shows an overall bearish trend. The signals given by moving averages are 67.86% bearish. This bearish trend is reinforced by the strong 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 Moving Average 100

Type : Bearish

Timeframe : Daily

The probability of a further decline is moderate given the direction of the technical indicators.
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

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

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	44,055.04	47,337.43	50,745.69	57,366.11	61,277.39	67,514.20	73,074.27
Change (%)	-23.20%	-17.48%	-11.54%	-	+6.82%	+17.69%	+27.38%
Change	-13,311.07	-10,028.68	-6,620.42	-	+3,911.28	+10,148.09	+15,708.16
Level	Intermediate	Minor	Minor	-	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	52,827.50	56,018.77	58,347.02	61,538.29	63,866.54	67,057.81	69,386.06
Camarilla	59,157.39	59,663.35	60,169.30	60,675.26	61,181.22	61,687.17	62,193.13
Woodie	52,395.98	55,803.02	57,915.50	61,322.54	63,435.02	66,842.06	68,954.54
Fibonacci	56,018.77	58,127.23	59,429.84	61,538.29	63,646.75	64,949.36	67,057.81

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	56,825.63	59,660.95	61,560.57	64,395.89	66,295.51	69,130.83	71,030.45
Camarilla	62,158.07	62,592.11	63,026.14	63,460.18	63,894.22	64,328.25	64,762.29
Woodie	56,357.77	59,427.03	61,092.71	64,161.97	65,827.65	68,896.91	70,562.59
Fibonacci	59,660.95	61,469.70	62,587.15	64,395.89	66,204.64	67,322.09	69,130.83

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	42,106.96	50,658.51	55,666.88	64,218.43	69,226.80	77,778.35	82,786.72
Camarilla	56,946.28	58,189.28	59,432.27	60,675.26	61,918.25	63,161.25	64,404.24
Woodie	40,335.38	49,772.72	53,895.30	63,332.64	67,455.22	76,892.56	81,015.14
Fibonacci	50,658.51	55,838.40	59,038.54	64,218.43	69,398.32	72,598.46	77,778.35

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):	31.84
MACD (12,26,9):	-1,510.2700
Directional Movement:	-20.10
AROON (14):	-64.29
DEMA (21):	62,203.31
Parabolic SAR (0,02-0,02-0,2):	64,729.57
Elder Ray (13):	-4,298.65
Super Trend (3,10):	67,934.41
Zig ZAG (10):	57,443.60
VORTEX (21):	0.8400
Stochastique (14,3,5):	27.13
TEMA (21):	60,680.68
Williams %R (14):	-92.45
Chande Momentum Oscillator (20):	-6,432.46
Repulse (5,40,3):	-10.5000
ROCnROLL:	2
TRIX (15,9):	-0.2200
Courbe Coppock:	6.87

MA7:	62,398.40
MA20:	63,821.08
MA50:	66,598.91
MA100:	59,520.23
MAexp7:	61,730.20
MAexp20:	63,882.57
MAexp50:	64,092.59
MAexp100:	59,790.80
Price / MA7:	-8.06%
Price / MA20:	-10.11%
Price / MA50:	-13.86%
Price / MA100:	-3.62%
Price / MAexp7:	-7.07%
Price / MAexp20:	-10.20%
Price / MAexp50:	-10.49%
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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