BITCOIN - BTC/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCUSDT
ISIN:

BITCOIN - BTC/USDT - Weekly - Technical analysis published on 05/25/2024 (GMT)

Londinia

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

50%

11%

39%

My opinion

Bullish above 55,666.88 USDT

My targets

69,226.80 USDT (+0.40%)

77,778.35 USDT (+12.80%)

My analysis

The bullish trend is currently very strong on BITCOIN - BTC/USDT. As long as the price remains above the support at 55,666.88 USDT, you could try to benefit from the boom. The first bullish objective is located at 69,226.80 USDT. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 77,778.35 USDT as an objective. Crossing it would then enable buyers to target 82,786.72 USDT. 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.

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

Force

7.3

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

Additional analysis

Quotes

The BITCOIN - BTC/USDT price is 68,949.56 USDT. The price registered an increase of +4.04% over 5 days and was traded between 66,590.46 USDT and 71,736.71 USDT over the period. The price is currently at +3.54% from its lowest point and -3.89% from its highest point.

66,590.46

71,736.71

68,949.56

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 study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of BITCOIN - BTC/USDT in Weekly shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Weekly

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.

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

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	25,005.74	39,567.66	47,337.43	68,949.56	71,627.11
Change (%)	-63.73%	-42.61%	-31.34%	-	+3.88%
Change	-43,943.82	-29,381.90	-21,612.13	-	+2,677.55
Level	Intermediate	Major	Intermediate	-	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	64,425.00	65,527.45	67,041.21	68,143.66	69,657.42	70,759.87	72,273.63
Camarilla	67,835.52	68,075.34	68,315.16	68,554.98	68,794.80	69,034.62	69,274.44
Woodie	64,630.67	65,630.28	67,246.88	68,246.49	69,863.09	70,862.70	72,479.30
Fibonacci	65,527.45	66,526.84	67,144.26	68,143.66	69,143.05	69,760.47	70,759.87

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	55,714.22	58,166.05	62,539.83	64,991.66	69,365.44	71,817.27	76,191.05
Camarilla	65,036.58	65,662.26	66,287.94	66,913.62	67,539.30	68,164.98	68,790.66
Woodie	56,675.21	58,646.54	63,500.82	65,472.15	70,326.43	72,297.76	77,152.04
Fibonacci	58,166.05	60,773.43	62,384.27	64,991.66	67,599.04	69,209.88	71,817.27

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):	70.06
MACD (12,26,9):	7,178.9400
Directional Movement:	15.67
AROON (14):	28.57
DEMA (21):	69,249.28
Parabolic SAR (0,02-0,02-0,2):	72,741.77
Elder Ray (13):	5,818.88
Super Trend (3,10):	52,439.65
Zig ZAG (10):	68,785.79
VORTEX (21):	1.1800
Stochastique (14,3,5):	71.17
TEMA (21):	70,637.13
Williams %R (14):	-21.34
Chande Momentum Oscillator (20):	5,683.60
Repulse (5,40,3):	8.1600
ROCnROLL:	1
TRIX (15,9):	2.5200
Courbe Coppock:	72.53

MA7:	68,927.62
MA20:	65,260.75
MA50:	65,053.59
MA100:	64,399.52
MAexp7:	65,578.54
MAexp20:	59,428.52
MAexp50:	47,789.35
MAexp100:	39,788.71
Price / MA7:	+0.03%
Price / MA20:	+5.65%
Price / MA50:	+5.99%
Price / MA100:	+7.07%
Price / MAexp7:	+5.14%
Price / MAexp20:	+16.02%
Price / MAexp50:	+44.28%
Price / MAexp100:	+73.29%

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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