BITCOIN - BTC/USD - 1H - Technical analysis published on 05/25/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 9,156.30 USD
My targets
8,800.57 USD (-1.42%)
8,561.57 USD (-4.10%)
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 9,156.30 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 9,156.30 USD. The next bearish objective for sellers is set at 8,800.57 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8,561.57 USD. In case of crossing, the next objective would be the support located at 6,617.29 USD. PS: if there is a bullish break in the resistance located at 9,156.30 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, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
FORCE
0
10
0.4
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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 rating is 8,927.47 USD. On the day, this instrument lost +2.24% with the lowest point at 8,668.42 USD and the highest point at 8,932.02 USD. The deviation from the price is +2.99% for the low point and -0.05% for the high point.8,668.42
8,932.02
8,927.47
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 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 scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Three white soldiers
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8,561.57 | 8,800.57 | 8,925.27 | 8,927.47 | 9,156.30 | 9,265.09 | 9,482.02 |
| Change (%) | -4.10% | -1.42% | -0.02% | - | +2.56% | +3.78% | +6.21% |
| Change | -365.90 | -126.90 | -2.20 | - | +228.83 | +337.62 | +554.55 |
| Level | Major | Intermediate | Minor | - | Intermediate | Intermediate | 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 | 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): | 51.66 | |
| MACD (12,26,9): | -40.3900 | |
| Directional Movement: | 3.70 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 8,764.66 | |
| Parabolic SAR (0,02-0,02-0,2): | 8,691.59 | |
| Elder Ray (13): | 63.53 | |
| Super Trend (3,10): | 8,977.17 | |
| Zig ZAG (10): | 8,885.44 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 81.52 | |
| TEMA (21): | 8,792.38 | |
| Williams %R (14): | -15.46 | |
| Chande Momentum Oscillator (20): | 94.47 | |
| Repulse (5,40,3): | 0.7300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 0.24 |
| MA7: | 9,187.38 | |
| MA20: | 9,307.55 | |
| MA50: | 8,271.74 | |
| MA100: | 7,927.00 | |
| MAexp7: | 8,829.71 | |
| MAexp20: | 8,837.39 | |
| MAexp50: | 8,947.07 | |
| MAexp100: | 9,078.68 | |
| Price / MA7: | -2.83% | |
| Price / MA20: | -4.08% | |
| Price / MA50: | +7.93% | |
| Price / MA100: | +12.62% | |
| Price / MAexp7: | +1.11% | |
| Price / MAexp20: | +1.02% | |
| Price / MAexp50: | -0.22% | |
| Price / MAexp100: | -1.67% |
This member declared not having a position on this financial instrument or a related financial instrument.
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