BITCOIN - BTC/USD - 1H - Technical analysis published on 06/06/2020 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 9,877.50 USD
My targets
9,463.29 USD (-2.01%)
9,341.15 USD (-3.27%)
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 9,877.50 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 9,877.50 USD. The next bearish objective for sellers is set at 9,463.29 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 9,341.15 USD. In case of crossing, the next objective would be the support located at 8,397.92 USD. PS: if there is a bullish break in the resistance located at 9,877.50 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
0.5
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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 9,657.40 USD. On the day, this instrument gained +0.37% and was between 9,540.00 USD and 9,732.68 USD. This implies that the price is at +1.23% from its lowest and at -0.77% from its highest.9,540.00
9,732.68
9,657.40
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of BITCOIN - BTC/USD indicates that the overall trend is bearish. 64.29% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish doji star
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 9,341.15 | 9,463.29 | 9,635.05 | 9,657.40 | 9,877.50 | 10,184.50 | 10,371.20 |
Change (%) | -3.27% | -2.01% | -0.23% | - | +2.28% | +5.46% | +7.39% |
Change | -316.25 | -194.11 | -22.35 | - | +220.10 | +527.10 | +713.80 |
Level | Intermediate | Minor | Major | - | Minor | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 9,313.92 | 9,468.02 | 9,545.07 | 9,699.17 | 9,776.22 | 9,930.32 | 10,007.37 |
Camarilla | 9,558.55 | 9,579.74 | 9,600.93 | 9,622.12 | 9,643.31 | 9,664.50 | 9,685.69 |
Woodie | 9,275.40 | 9,448.76 | 9,506.55 | 9,679.91 | 9,737.70 | 9,911.06 | 9,968.85 |
Fibonacci | 9,468.02 | 9,556.32 | 9,610.87 | 9,699.17 | 9,787.47 | 9,842.02 | 9,930.32 |
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 | 6,411.98 | 7,269.37 | 8,357.93 | 9,215.32 | 10,303.88 | 11,161.27 | 12,249.83 |
Camarilla | 8,911.36 | 9,089.74 | 9,268.12 | 9,446.50 | 9,624.88 | 9,803.26 | 9,981.64 |
Woodie | 6,527.58 | 7,327.16 | 8,473.53 | 9,273.11 | 10,419.48 | 11,219.06 | 12,365.43 |
Fibonacci | 7,269.37 | 8,012.72 | 8,471.96 | 9,215.32 | 9,958.67 | 10,417.91 | 11,161.27 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
RSI (14): | 49.82 | |
MACD (12,26,9): | -12.3900 | |
Directional Movement: | 2.46 | |
AROON (14): | 85.71 | |
DEMA (21): | 9,632.65 | |
Parabolic SAR (0,02-0,02-0,2): | 9,589.59 | |
Elder Ray (13): | 12.97 | |
Super Trend (3,10): | 9,738.23 | |
Zig ZAG (10): | 9,657.40 | |
VORTEX (21): | 0.9200 | |
Stochastique (14,3,5): | 58.26 | |
TEMA (21): | 9,636.67 | |
Williams %R (14): | -39.19 | |
Chande Momentum Oscillator (20): | 63.66 | |
Repulse (5,40,3): | -0.0800 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.0400 | |
Courbe Coppock: | 0.30 |
MA7: | 9,702.03 | |
MA20: | 9,434.19 | |
MA50: | 8,877.03 | |
MA100: | 7,924.20 | |
MAexp7: | 9,652.53 | |
MAexp20: | 9,653.07 | |
MAexp50: | 9,674.35 | |
MAexp100: | 9,665.33 | |
Price / MA7: | -0.46% | |
Price / MA20: | +2.37% | |
Price / MA50: | +8.79% | |
Price / MA100: | +21.87% | |
Price / MAexp7: | +0.05% | |
Price / MAexp20: | +0.04% | |
Price / MAexp50: | -0.18% | |
Price / MAexp100: | -0.08% |
Quotes :
2020-06-06 14:37:14
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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.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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