BITCOIN GOLD - BTG/USD - 1H - Technical analysis published on 04/02/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 7.63 USD
My targets
7.87 USD (+2.08%)
8.60 USD (+11.50%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BITCOIN GOLD - BTG/USD as long as the price remains well above 7.63 USD. The buyers” bullish objective is set at 7.87 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.60 USD. If there is any crossing, the next objective would be the resistance located at 8.80 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
9.1
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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 rating is 7.71 USD. On the day, this instrument gained +5.18% with the lowest point at 7.25 USD and the highest point at 7.81 USD. The deviation from the price is +6.34% for the low point and -1.28% for the high point.7.25
7.81
7.71
The Central Gaps scanner detects a bearish 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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this 1H chart of BITCOIN GOLD - BTG/USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Three white soldiers
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.21 | 7.41 | 7.63 | 7.71 | 7.73 | 7.87 | 8.80 |
| Change (%) | -6.49% | -3.89% | -1.04% | - | +0.26% | +2.08% | +14.14% |
| Change | -0.50 | -0.30 | -0.08 | - | +0.02 | +0.16 | +1.09 |
| Level | Minor | Intermediate | 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 | 6.50 | 6.69 | 7.01 | 7.20 | 7.52 | 7.71 | 8.03 |
| Camarilla | 7.19 | 7.24 | 7.28 | 7.33 | 7.38 | 7.42 | 7.47 |
| Woodie | 6.57 | 6.72 | 7.08 | 7.23 | 7.59 | 7.74 | 8.10 |
| Fibonacci | 6.69 | 6.89 | 7.01 | 7.20 | 7.40 | 7.52 | 7.71 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.17 | 5.92 | 6.51 | 7.26 | 7.85 | 8.60 | 9.19 |
| Camarilla | 6.74 | 6.86 | 6.99 | 7.11 | 7.23 | 7.36 | 7.48 |
| Woodie | 5.10 | 5.88 | 6.44 | 7.22 | 7.78 | 8.56 | 9.12 |
| Fibonacci | 5.92 | 6.43 | 6.75 | 7.26 | 7.77 | 8.09 | 8.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -4.68 | -0.30 | 3.45 | 7.83 | 11.58 | 15.96 | 19.71 |
| Camarilla | 4.96 | 5.71 | 6.46 | 7.20 | 7.95 | 8.69 | 9.44 |
| Woodie | -5.00 | -0.46 | 3.14 | 7.67 | 11.27 | 15.80 | 19.40 |
| Fibonacci | -0.30 | 2.81 | 4.72 | 7.83 | 10.94 | 12.85 | 15.96 |
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): | 78.06 | |
| MACD (12,26,9): | 0.1200 | |
| Directional Movement: | 35.35 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 7.53 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.34 | |
| Elder Ray (13): | 0.25 | |
| Super Trend (3,10): | 7.35 | |
| Zig ZAG (10): | 7.70 | |
| VORTEX (21): | 1.2400 | |
| Stochastique (14,3,5): | 88.30 | |
| TEMA (21): | 7.60 | |
| Williams %R (14): | -20.75 | |
| Chande Momentum Oscillator (20): | 0.37 | |
| Repulse (5,40,3): | 2.8500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1800 | |
| Courbe Coppock: | 6.03 |
| MA7: | 7.20 | |
| MA20: | 7.06 | |
| MA50: | 8.77 | |
| MA100: | 9.08 | |
| MAexp7: | 7.54 | |
| MAexp20: | 7.39 | |
| MAexp50: | 7.26 | |
| MAexp100: | 7.20 | |
| Price / MA7: | +7.08% | |
| Price / MA20: | +9.21% | |
| Price / MA50: | -12.09% | |
| Price / MA100: | -15.09% | |
| Price / MAexp7: | +2.25% | |
| Price / MAexp20: | +4.33% | |
| Price / MAexp50: | +6.20% | |
| Price / MAexp100: | +7.08% |
This member declared not having a position on this financial instrument or a related financial instrument.
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