BITCOIN - BTC/USD
BITCOIN - BTC/USD
9,566.63 USD (-1.36%)
Real time data - Cryptocompare
Open: 9,698.34
Change: -131.39
Volume: 853
Low: 9,499.40
High: 9,702.51
High / Low range: 203.11
Type: Cryptocurrencies
Ticker: BTCUSD
ISIN:

BITCOIN - BTC/USD - 1H - Technical analysis published on 05/22/2020

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  • Timeframe : 1H
  • Status : TARGET REACHED

Summary of the analysis

Trends
Court terme: Neutral
De fond: Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 9,341.27 USD
My targets
9,120.50 USD (-0.85%)
8,927.83 USD (-2.94%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 9,341.27 USD remains possible. It is advisable to trade BITCOIN - BTC/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 9,341.27 USD. The next bearish objective for sellers is set at 9,120.50 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8,927.83 USD. In case of crossing, the next objective would be the support located at 8,800.57 USD. PS: if there is a bullish break in the resistance located at 9,341.27 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

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
0.5

This analysis was given by lokisynz1. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly
Attention: This analysis is for information purposes only and does not constitute personalized investment advice or an incentive 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 product 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 analysis. 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.

Additional analysis

Quotes

BITCOIN - BTC/USD rating 9,198.66 USD. The price is lower by +1.57% since the last closing and was traded between 8,923.99 USD and 9,266.55 USD over the period. The price is currently at +3.08% from its lowest and -0.73% from its highest.

8,923.99
9,266.55
9,198.66

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:

Technical


Technical analysis of BITCOIN - BTC/USD in 1H shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:

Central Indicators

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : 1 hour



In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found no further results concerning independent technical indicators.

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Central Patterns

Horizontal support 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


S3S2S1PriceR1R2R3
ProTrendLines 8,800.57 8,927.83 9,120.50 9,198.66 9,341.27 9,482.02 9,896.88
Change (%) -4.33% -2.94% -0.85% - +1.55% +3.08% +7.59%
Change -398.09 -270.83 -78.16 - +142.61 +283.36 +698.22
Level Intermediate Minor Minor - Minor Minor Intermediate



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

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7,948.408,374.488,715.529,141.609,482.649,908.7210,249.76
Camarilla8,845.598,915.918,986.239,056.559,126.879,197.199,267.51
Woodie7,905.878,353.228,672.999,120.349,440.119,887.4610,207.23
Fibonacci8,374.488,667.528,848.569,141.609,434.649,615.689,908.72


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard6,543.427,335.088,360.279,151.9310,177.1210,968.7811,993.97
Camarilla8,885.829,052.369,218.919,385.459,552.009,718.549,885.08
Woodie6,660.187,393.468,477.039,210.3110,293.8811,027.1612,110.72
Fibonacci7,335.088,029.128,457.909,151.939,845.9710,274.7510,968.78


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard3,388.784,773.696,699.088,083.9910,009.3811,394.2913,319.68
Camarilla7,714.148,017.588,321.038,624.478,927.919,231.369,534.80
Woodie3,659.024,908.816,969.328,219.1110,279.6211,529.4113,589.92
Fibonacci4,773.696,038.236,819.468,083.999,348.5310,129.7611,394.29

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): 52.64
MACD (12,26,9): 6.0900
Directional Movement: -3.38
AROON (14): 64.29
DEMA (21): 9,158.08
Parabolic SAR (0,02-0,02-0,2): 9,261.16
Elder Ray (13): 28.42
Super Trend (3,10): 9,270.49
Zig ZAG (10): 9,182.96
VORTEX (21): 1.1100
Stochastique (14,3,5): 68.54
TEMA (21): 9,221.29
Williams %R (14): -31.67
Chande Momentum Oscillator (20): 36.99
Repulse (5,40,3): 0.1800
ROCnROLL: -1
TRIX (15,9): -0.0100
Courbe Coppock: 2.70
MA7: 9,474.89
MA20: 9,310.81
MA50: 8,144.21
MA100: 7,964.54
MAexp7: 9,188.94
MAexp20: 9,164.75
MAexp50: 9,235.71
MAexp100: 9,347.65
Price / MA7: -2.92%
Price / MA20: -1.20%
Price / MA50: +12.95%
Price / MA100: +15.50%
Price / MAexp7: +0.11%
Price / MAexp20: +0.37%
Price / MAexp50: -0.40%
Price / MAexp100: -1.59%

This member declared not having a position on this financial instrument or a related financial instrument.

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