BITCOIN - BTC/USD - 1H - Technical analysis published on 05/25/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
28%
56%
17%
My opinion
Bearish under 8,925.27 USD
My targets
8,561.57 USD (-2.65%)
7,510.00 USD (-14.61%)
My analysis
The bearish trend is currently very strong for BITCOIN - BTC/USD. As long as the price remains below the resistance at 8,925.27 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 8,561.57 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7,510.00 USD as an objective. Crossing it would then enable sellers to target 6,617.29 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 bearish sentiment is not called into question, despite technical indicators being neutral.
FORCE
0
10
7
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This analysis was given by lokisynz1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 8,794.64 USD. The price is lower by +0.72% since the last closing and was between 8,668.42 USD and 8,814.61 USD. This implies that the price is at +1.46% from its lowest and at -0.23% from its highest.8,668.42
8,814.61
8,794.64
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
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of BITCOIN - BTC/USD in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
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 this result:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5,875.21 | 6,617.29 | 8,561.57 | 8,794.64 | 8,800.57 | 8,925.27 | 9,156.30 |
| Change (%) | -33.20% | -24.76% | -2.65% | - | +0.07% | +1.49% | +4.11% |
| Change | -2,919.43 | -2,177.35 | -233.07 | - | +5.93 | +130.63 | +361.66 |
| Level | Major | Intermediate | Major | - | Intermediate | Minor | Intermediate |
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 | 7,948.77 | 8,332.88 | 8,532.37 | 8,916.48 | 9,115.97 | 9,500.08 | 9,699.57 |
| Camarilla | 8,571.36 | 8,624.86 | 8,678.35 | 8,731.85 | 8,785.35 | 8,838.84 | 8,892.34 |
| Woodie | 7,856.45 | 8,286.73 | 8,440.05 | 8,870.33 | 9,023.65 | 9,453.92 | 9,607.25 |
| Fibonacci | 8,332.88 | 8,555.82 | 8,693.55 | 8,916.48 | 9,139.42 | 9,277.15 | 9,500.08 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,510.00 | 8,155.28 | 8,666.02 | 9,311.30 | 9,822.04 | 10,467.32 | 10,978.06 |
| Camarilla | 8,858.85 | 8,964.81 | 9,070.78 | 9,176.75 | 9,282.72 | 9,388.69 | 9,494.66 |
| Woodie | 7,442.72 | 8,121.65 | 8,598.74 | 9,277.67 | 9,754.76 | 10,433.68 | 10,910.78 |
| Fibonacci | 8,155.28 | 8,596.88 | 8,869.70 | 9,311.30 | 9,752.90 | 10,025.72 | 10,467.32 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,388.78 | 4,773.69 | 6,699.08 | 8,083.99 | 10,009.38 | 11,394.29 | 13,319.68 |
| Camarilla | 7,714.14 | 8,017.58 | 8,321.03 | 8,624.47 | 8,927.91 | 9,231.36 | 9,534.80 |
| Woodie | 3,659.02 | 4,908.81 | 6,969.32 | 8,219.11 | 10,279.62 | 11,529.41 | 13,589.92 |
| Fibonacci | 4,773.69 | 6,038.23 | 6,819.46 | 8,083.99 | 9,348.53 | 10,129.76 | 11,394.29 |
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): | 32.37 | |
| MACD (12,26,9): | -103.7000 | |
| Directional Movement: | -20.67 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 8,838.27 | |
| Parabolic SAR (0,02-0,02-0,2): | 8,964.78 | |
| Elder Ray (13): | -118.43 | |
| Super Trend (3,10): | 9,006.82 | |
| Zig ZAG (10): | 8,795.03 | |
| VORTEX (21): | 0.7600 | |
| Stochastique (14,3,5): | 27.34 | |
| TEMA (21): | 8,774.57 | |
| Williams %R (14): | -68.03 | |
| Chande Momentum Oscillator (20): | -263.27 | |
| Repulse (5,40,3): | 0.1200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 6.57 |
| MA7: | 9,175.22 | |
| MA20: | 9,303.25 | |
| MA50: | 8,269.81 | |
| MA100: | 7,926.10 | |
| MAexp7: | 8,838.84 | |
| MAexp20: | 8,962.19 | |
| MAexp50: | 9,080.47 | |
| MAexp100: | 9,186.08 | |
| Price / MA7: | -4.15% | |
| Price / MA20: | -5.47% | |
| Price / MA50: | +6.35% | |
| Price / MA100: | +10.96% | |
| Price / MAexp7: | -0.50% | |
| Price / MAexp20: | -1.87% | |
| Price / MAexp50: | -3.15% | |
| Price / MAexp100: | -4.26% |
This member declared not having a position on this financial instrument or a related financial instrument.
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