BITCOIN - BTC/USD - Weekly - Technical analysis published on 05/31/2020 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 8,397.92 USD
My targets
10,371.20 USD (+7.64%)
12,932.90 USD (+34.23%)
My analysis
The bullish trend is currently very strong on BITCOIN - BTC/USD. As long as the price remains above the support at 8,397.92 USD, you could try to benefit from the boom. The first bullish objective is located at 10,371.20 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 12,932.90 USD as an objective. Crossing it would then enable buyers to target 19,345.50 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
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
7.5
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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 9,635.04 USD. The price registered an increase of +8.33% over 5 days with the lowest point at 8,811.66 USD and the highest point at 9,619.56 USD. The deviation from the price is +9.34% for the low point and +0.16% for the high point.8,811.66
9,619.56
9,635.04
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Weekly of this BITCOIN - BTC/USD chart shows a strongly bullish trend. 82.14% 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.
In fact, 15 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 : Weekly
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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:
Bullish engulfing lines
Type : Bullish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,182.14 | 5,875.21 | 8,397.92 | 9,635.04 | 10,371.20 | 12,932.90 | 19,345.50 |
| Change (%) | -66.97% | -39.02% | -12.84% | - | +7.64% | +34.23% | +100.78% |
| Change | -6,452.90 | -3,759.83 | -1,237.12 | - | +736.16 | +3,297.86 | +9,710.46 |
| Level | Major | Major | 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 | 9,049.85 | 9,194.15 | 9,446.08 | 9,590.38 | 9,842.31 | 9,986.61 | 10,238.54 |
| Camarilla | 9,589.06 | 9,625.38 | 9,661.70 | 9,698.02 | 9,734.34 | 9,770.66 | 9,806.98 |
| Woodie | 9,103.68 | 9,221.06 | 9,499.91 | 9,617.29 | 9,896.13 | 10,013.52 | 10,292.36 |
| Fibonacci | 9,194.15 | 9,345.51 | 9,439.02 | 9,590.38 | 9,741.74 | 9,835.25 | 9,986.61 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,937.99 | 8,304.65 | 9,001.34 | 9,368.00 | 10,064.69 | 10,431.35 | 11,128.04 |
| Camarilla | 9,405.60 | 9,503.07 | 9,600.55 | 9,698.02 | 9,795.49 | 9,892.97 | 9,990.44 |
| Woodie | 8,103.00 | 8,387.16 | 9,166.35 | 9,450.51 | 10,229.70 | 10,513.86 | 11,293.04 |
| Fibonacci | 8,304.65 | 8,710.85 | 8,961.80 | 9,368.00 | 9,774.20 | 10,025.15 | 10,431.35 |
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): | 58.46 | |
| MACD (12,26,9): | 294.3700 | |
| Directional Movement: | -0.45 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 8,747.35 | |
| Parabolic SAR (0,02-0,02-0,2): | 4,403.46 | |
| Elder Ray (13): | 990.57 | |
| Super Trend (3,10): | 10,389.18 | |
| Zig ZAG (10): | 9,630.98 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 89.77 | |
| TEMA (21): | 9,031.87 | |
| Williams %R (14): | -7.10 | |
| Chande Momentum Oscillator (20): | 4,467.87 | |
| Repulse (5,40,3): | 10.3400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 20.81 |
| MA7: | 9,323.03 | |
| MA20: | 9,335.83 | |
| MA50: | 8,539.77 | |
| MA100: | 7,903.56 | |
| MAexp7: | 9,082.64 | |
| MAexp20: | 8,490.96 | |
| MAexp50: | 8,187.75 | |
| MAexp100: | 7,552.09 | |
| Price / MA7: | +3.35% | |
| Price / MA20: | +3.20% | |
| Price / MA50: | +12.83% | |
| Price / MA100: | +21.91% | |
| Price / MAexp7: | +6.08% | |
| Price / MAexp20: | +13.47% | |
| Price / MAexp50: | +17.68% | |
| Price / MAexp100: | +27.58% |
Quotes :
2020-05-31 02:24:33
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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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