BITCOIN - BTC/USDT - Daily - Technical analysis published on 10/10/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Bearish
De fond:
Strongly bearish
Technical indicators
67%
17%
17%
My opinion
Bearish under 9,477.05 USDT
My targets
8,185.00 USDT (-3.96%)
6,635.39 USDT (-22.14%)
My analysis
The bearish basic trend is very strong on BITCOIN - BTC/USDT but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 9,477.05 USDT. Crossing the first support at 8,185.00 USDT would be a sign of a further potential price plummet. Sellers would then use the next support located at 6,635.39 USDT as an objective. Crossing it would then enable sellers to target 4,691.00 USDT. Caution, a return to above the resistance located at 9,477.05 USDT would be a sign of a possible consolidation phase of the short-term basic trend. 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, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
FORCE
0
10
3.4
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This analysis was given by vinod. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USDT rating is 8,522.33 USDT. On the day, this instrument lost -0.47% and was traded between 8,431.64 USDT and 8,640.47 USDT over the period. The price is currently at +1.08% from its lowest and -1.37% from its highest.8,431.64
8,640.47
8,522.33
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USDT:
Technical
A technical analysis in Daily of this BITCOIN - BTC/USDT chart shows a sharp bearish trend. The signals given by moving averages are 85.71% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4,691.00 | 6,635.39 | 8,185.00 | 8,522.33 | 9,477.05 | 10,613.40 | 11,992.30 |
| Change (%) | -44.96% | -22.14% | -3.96% | - | +11.20% | +24.54% | +40.72% |
| Change | -3,831.33 | -1,886.94 | -337.33 | - | +954.72 | +2,091.07 | +3,469.97 |
| Level | Intermediate | Major | Minor | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,695.47 | 7,906.04 | 8,234.23 | 8,444.80 | 8,772.99 | 8,983.56 | 9,311.75 |
| Camarilla | 8,414.25 | 8,463.64 | 8,513.02 | 8,562.41 | 8,611.80 | 8,661.18 | 8,710.57 |
| Woodie | 7,754.27 | 7,935.45 | 8,293.03 | 8,474.21 | 8,831.79 | 9,012.97 | 9,370.55 |
| Fibonacci | 7,906.04 | 8,111.85 | 8,239.00 | 8,444.80 | 8,650.61 | 8,777.76 | 8,983.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,988.74 | 7,363.50 | 7,744.32 | 8,119.08 | 8,499.90 | 8,874.66 | 9,255.48 |
| Camarilla | 7,917.36 | 7,986.62 | 8,055.88 | 8,125.14 | 8,194.40 | 8,263.66 | 8,332.92 |
| Woodie | 6,991.77 | 7,365.02 | 7,747.35 | 8,120.60 | 8,502.93 | 8,876.18 | 9,258.51 |
| Fibonacci | 7,363.50 | 7,652.13 | 7,830.45 | 8,119.08 | 8,407.71 | 8,586.03 | 8,874.66 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,891.55 | 5,814.90 | 7,049.79 | 8,973.14 | 10,208.03 | 12,131.38 | 13,366.27 |
| Camarilla | 7,416.15 | 7,705.66 | 7,995.17 | 8,284.67 | 8,574.18 | 8,863.68 | 9,153.19 |
| Woodie | 3,547.31 | 5,642.79 | 6,705.55 | 8,801.03 | 9,863.79 | 11,959.27 | 13,022.03 |
| Fibonacci | 5,814.90 | 7,021.35 | 7,766.70 | 8,973.14 | 10,179.59 | 10,924.94 | 12,131.38 |
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): | 43.85 | |
| MACD (12,26,9): | -394.8900 | |
| Directional Movement: | -13.66 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 8,042.32 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,786.11 | |
| Elder Ray (13): | 130.58 | |
| Super Trend (3,10): | 9,055.25 | |
| Zig ZAG (10): | 8,528.79 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 73.56 | |
| TEMA (21): | 7,992.99 | |
| Williams %R (14): | -13.61 | |
| Chande Momentum Oscillator (20): | 329.12 | |
| Repulse (5,40,3): | 3.9500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.7700 | |
| Courbe Coppock: | 10.99 |
| MA7: | 8,225.71 | |
| MA20: | 8,493.38 | |
| MA50: | 9,509.54 | |
| MA100: | 10,139.17 | |
| MAexp7: | 8,332.94 | |
| MAexp20: | 8,605.20 | |
| MAexp50: | 9,263.04 | |
| MAexp100: | 9,405.40 | |
| Price / MA7: | +3.61% | |
| Price / MA20: | +0.34% | |
| Price / MA50: | -10.38% | |
| Price / MA100: | -15.95% | |
| Price / MAexp7: | +2.27% | |
| Price / MAexp20: | -0.96% | |
| Price / MAexp50: | -8.00% | |
| Price / MAexp100: | -9.39% |
This member declared not having a position on this financial instrument or a related financial instrument.
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