BITCOIN GOLD - BTG/USD - 1H - Technical analysis published on 01/27/2023 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
50%
11%
39%
My opinion
Bullish above 17.09 USD
My targets
17.86 USD (+1.59%)
19.18 USD (+9.10%)
My analysis
The basic bullish trend is very strong on BITCOIN GOLD - BTG/USD but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 17.09 USD. Crossing the first resistance at 17.86 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 19.18 USD as an objective. Crossing it would then enable buyers to target 21.24 USD. Caution, a return to below 17.09 USD would be a sign of a consolidation phase in 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
5.5
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Additional analysis
Quotes
The BITCOIN GOLD - BTG/USD rating is 17.58 USD. The price registered a decrease of -0.17% on the session and was traded between 17.11 USD and 18.24 USD over the period. The price is currently at +2.75% from its lowest and -3.62% from its highest.17.11
18.24
17.58
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in 1H of this BITCOIN GOLD - BTG/USD chart shows a strongly bullish trend. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 15.85 | 16.46 | 17.09 | 17.58 | 19.18 | 21.24 | 26.22 |
| Change (%) | -9.84% | -6.37% | -2.79% | - | +9.10% | +20.82% | +49.15% |
| Change | -1.73 | -1.12 | -0.49 | - | +1.60 | +3.66 | +8.64 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.87 | 14.44 | 16.03 | 17.60 | 19.19 | 20.76 | 22.35 |
| Camarilla | 16.74 | 17.03 | 17.32 | 17.61 | 17.90 | 18.19 | 18.48 |
| Woodie | 12.87 | 14.45 | 16.03 | 17.61 | 19.19 | 20.77 | 22.35 |
| Fibonacci | 14.44 | 15.65 | 16.40 | 17.60 | 18.81 | 19.56 | 20.76 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.65 | 13.62 | 14.77 | 15.74 | 16.89 | 17.86 | 19.01 |
| Camarilla | 15.34 | 15.53 | 15.73 | 15.92 | 16.11 | 16.31 | 16.50 |
| Woodie | 12.74 | 13.67 | 14.86 | 15.79 | 16.98 | 17.91 | 19.10 |
| Fibonacci | 13.62 | 14.43 | 14.93 | 15.74 | 16.55 | 17.05 | 17.86 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.94 | 7.03 | 9.25 | 12.34 | 14.56 | 17.65 | 19.87 |
| Camarilla | 10.00 | 10.49 | 10.97 | 11.46 | 11.95 | 12.43 | 12.92 |
| Woodie | 3.50 | 6.81 | 8.81 | 12.12 | 14.12 | 17.43 | 19.43 |
| Fibonacci | 7.03 | 9.06 | 10.32 | 12.34 | 14.37 | 15.63 | 17.65 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 52.64 | |
| MACD (12,26,9): | 0.1300 | |
| Directional Movement: | 12.27 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 17.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 18.66 | |
| Elder Ray (13): | 0.08 | |
| Super Trend (3,10): | 16.43 | |
| Zig ZAG (10): | 17.60 | |
| VORTEX (21): | 0.9200 | |
| Stochastique (14,3,5): | 38.30 | |
| TEMA (21): | 17.58 | |
| Williams %R (14): | -56.64 | |
| Chande Momentum Oscillator (20): | 0.03 | |
| Repulse (5,40,3): | 0.1000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1700 | |
| Courbe Coppock: | 2.46 |
| MA7: | 16.65 | |
| MA20: | 15.66 | |
| MA50: | 14.20 | |
| MA100: | 14.98 | |
| MAexp7: | 17.51 | |
| MAexp20: | 17.45 | |
| MAexp50: | 17.11 | |
| MAexp100: | 16.82 | |
| Price / MA7: | +5.59% | |
| Price / MA20: | +12.26% | |
| Price / MA50: | +23.80% | |
| Price / MA100: | +17.36% | |
| Price / MAexp7: | +0.40% | |
| Price / MAexp20: | +0.74% | |
| Price / MAexp50: | +2.75% | |
| Price / MAexp100: | +4.52% |
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.
About author
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