BITCOIN GOLD - BTG/USD - 1H - Technical analysis published on 07/16/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Slightly bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 27.33 USD
My targets
28.09 USD (+0.07%)
29.29 USD (+4.35%)
My analysis
The bullish trend is truly tentative and does not seem to be supported in the short term. It is advisable to trade Bitcoin Gold - BTG/USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 27.33 USD. The buyers” bullish objective is set at 28.09 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 29.29 USD. If there is any crossing, the next objective would be the resistance located at 30.31 USD. If there is a bearish break in the support located at 27.33 USD some indecision would arise.
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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The Bitcoin Gold - BTG/USD price is 28.07 USD. On the day, this instrument gained +0.18% with the lowest point at 27.26 USD and the highest point at 29.00 USD. The deviation from the price is +2.97% for the low point and -3.21% for the high point.27.26
29.00
28.07
The Central Gaps scanner detects a bullish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this Bitcoin Gold - BTG/USD chart shows a slightly bullish trend. 46.43% of the signals given by moving averages are bullish. The slightly bullish signals given by short-term moving averages do not show a strengthening of this global trend. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 25.39 | 26.11 | 27.33 | 28.07 | 28.09 | 29.29 | 30.31 |
| Change (%) | -9.55% | -6.98% | -2.64% | - | +0.07% | +4.35% | +7.98% |
| Change | -2.68 | -1.96 | -0.74 | - | +0.02 | +1.22 | +2.24 |
| Level | Minor | Major | Intermediate | - | Intermediate | Minor | Minor |
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 | 22.88 | 24.13 | 26.08 | 27.33 | 29.28 | 30.53 | 32.48 |
| Camarilla | 27.14 | 27.43 | 27.73 | 28.02 | 28.31 | 28.61 | 28.90 |
| Woodie | 23.22 | 24.31 | 26.42 | 27.51 | 29.62 | 30.71 | 32.82 |
| Fibonacci | 24.13 | 25.36 | 26.11 | 27.33 | 28.56 | 29.31 | 30.53 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.40 | 22.71 | 25.48 | 28.79 | 31.56 | 34.87 | 37.64 |
| Camarilla | 26.59 | 27.15 | 27.70 | 28.26 | 28.82 | 29.38 | 29.93 |
| Woodie | 19.14 | 22.58 | 25.22 | 28.66 | 31.30 | 34.74 | 37.38 |
| Fibonacci | 22.71 | 25.03 | 26.46 | 28.79 | 31.11 | 32.54 | 34.87 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.58 | 18.81 | 22.46 | 27.69 | 31.34 | 36.57 | 40.22 |
| Camarilla | 23.68 | 24.49 | 25.31 | 26.12 | 26.93 | 27.75 | 28.56 |
| Woodie | 12.80 | 18.42 | 21.68 | 27.30 | 30.56 | 36.18 | 39.44 |
| Fibonacci | 18.81 | 22.20 | 24.30 | 27.69 | 31.08 | 33.18 | 36.57 |
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): | 55.59 | |
| MACD (12,26,9): | 0.2400 | |
| Directional Movement: | 11.03 | |
| AROON (14): | 14.28 | |
| DEMA (21): | 28.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 27.40 | |
| Elder Ray (13): | 0.29 | |
| Super Trend (3,10): | 27.28 | |
| Zig ZAG (10): | 28.35 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 76.82 | |
| TEMA (21): | 28.56 | |
| Williams %R (14): | -33.91 | |
| Chande Momentum Oscillator (20): | 0.35 | |
| Repulse (5,40,3): | -0.0500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1100 | |
| Courbe Coppock: | 2.39 |
| MA7: | 28.57 | |
| MA20: | 27.56 | |
| MA50: | 27.46 | |
| MA100: | 23.24 | |
| MAexp7: | 28.33 | |
| MAexp20: | 28.05 | |
| MAexp50: | 27.94 | |
| MAexp100: | 28.14 | |
| Price / MA7: | -1.75% | |
| Price / MA20: | +1.85% | |
| Price / MA50: | +2.22% | |
| Price / MA100: | +20.78% | |
| Price / MAexp7: | -0.92% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | +0.47% | |
| Price / MAexp100: | -0.25% |
This member declared not having a position on this financial instrument or a related financial instrument.
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