BITCOIN - BTC/USD - Daily - Technical analysis published on 05/30/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
56%
17%
28%
My opinion
Bullish above 8,397.92 USD
My targets
10,371.20 USD (+8.64%)
11,394.29 USD (+19.35%)
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 - BTC/USD as long as the price remains well above 8,397.92 USD. The buyers” bullish objective is set at 10,371.20 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 11,394.29 USD. If there is any crossing, the next objective would be the resistance located at 12,932.90 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
6.3
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 lokisynz1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 9,546.83 USD. On the day, this instrument gained +1.32% with the lowest point at 9,335.90 USD and the highest point at 9,597.18 USD. The deviation from the price is +2.26% for the low point and -0.52% for the high point.9,335.90
9,597.18
9,546.83
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of BITCOIN - BTC/USD indicates that the overall trend is strongly bullish. 82.14% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 10 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
Support of triangle is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5,875.21 | 6,617.29 | 8,397.92 | 9,546.83 | 10,371.20 | 12,932.90 | 19,345.50 |
| Change (%) | -38.46% | -30.69% | -12.03% | - | +8.64% | +35.47% | +102.64% |
| Change | -3,671.62 | -2,929.54 | -1,148.91 | - | +824.37 | +3,386.07 | +9,798.67 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9,055.60 | 9,201.08 | 9,312.01 | 9,457.49 | 9,568.42 | 9,713.90 | 9,824.83 |
| Camarilla | 9,352.43 | 9,375.93 | 9,399.44 | 9,422.94 | 9,446.45 | 9,469.95 | 9,493.45 |
| Woodie | 9,038.33 | 9,192.44 | 9,294.74 | 9,448.85 | 9,551.15 | 9,705.26 | 9,807.56 |
| Fibonacci | 9,201.08 | 9,299.03 | 9,359.54 | 9,457.49 | 9,555.44 | 9,615.95 | 9,713.90 |
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 is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 56.81 | |
| MACD (12,26,9): | 186.5200 | |
| Directional Movement: | 5.94 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 9,479.15 | |
| Parabolic SAR (0,02-0,02-0,2): | 9,833.10 | |
| Elder Ray (13): | 205.31 | |
| Super Trend (3,10): | 8,476.04 | |
| Zig ZAG (10): | 9,477.27 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 63.84 | |
| TEMA (21): | 9,331.02 | |
| Williams %R (14): | -36.89 | |
| Chande Momentum Oscillator (20): | -216.19 | |
| Repulse (5,40,3): | 3.3200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3900 | |
| Courbe Coppock: | 3.01 |
| MA7: | 9,173.71 | |
| MA20: | 9,271.95 | |
| MA50: | 8,480.59 | |
| MA100: | 7,902.08 | |
| MAexp7: | 9,329.71 | |
| MAexp20: | 9,183.41 | |
| MAexp50: | 8,685.46 | |
| MAexp100: | 8,349.66 | |
| Price / MA7: | +4.07% | |
| Price / MA20: | +2.96% | |
| Price / MA50: | +12.57% | |
| Price / MA100: | +20.81% | |
| Price / MAexp7: | +2.33% | |
| Price / MAexp20: | +3.96% | |
| Price / MAexp50: | +9.92% | |
| Price / MAexp100: | +14.34% |
Quotes :
2020-05-30 22:36:56
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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