BITCOIN - BTC/USD - Weekly - Technical analysis published on 06/29/2020 (GMT)
- Who voted?
- 185
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 8,397.92 USD
My targets
10,371.20 USD (+13.55%)
12,932.90 USD (+41.59%)
My analysis
All elements being rather bullish, it would be possible for traders to only trade 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 12,932.90 USD. If there is any crossing, the next objective would be the resistance located at 19,345.50 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.9
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 AKOUSA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 9,133.89 USD. The price registered a decrease of -5.08% over 5 days and was traded between 8,838.74 USD and 9,334.62 USD over the period. The price is currently at +3.34% from its lowest point and -2.15% from its highest point.8,838.74
9,334.62
9,133.89
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BITCOIN - BTC/USD in Weekly shows an overall bullish trend. 78.57% of the signals given by moving averages are bullish. This bullish trend shows slight signs of slowing down given the slightly bullish signals given by the short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a moderate bullish signal.
The Central Indicators scanner found this result concerning these indicators:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Three black crows
Type : Bearish
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 | 9,133.89 | 10,371.20 | 12,932.90 | 19,345.50 |
| Change (%) | -65.16% | -35.68% | -8.06% | - | +13.55% | +41.59% | +111.80% |
| Change | -5,951.75 | -3,258.68 | -735.97 | - | +1,237.31 | +3,799.01 | +10,211.61 |
| Level | Major | Major | Minor | - | Intermediate | Intermediate | Major |
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 | 8,722.09 | 8,828.20 | 8,976.37 | 9,082.48 | 9,230.65 | 9,336.76 | 9,484.93 |
| Camarilla | 9,054.62 | 9,077.93 | 9,101.24 | 9,124.55 | 9,147.86 | 9,171.17 | 9,194.48 |
| Woodie | 8,743.13 | 8,838.72 | 8,997.41 | 9,093.00 | 9,251.69 | 9,347.28 | 9,505.97 |
| Fibonacci | 8,828.20 | 8,925.33 | 8,985.34 | 9,082.48 | 9,179.61 | 9,239.62 | 9,336.76 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,680.46 | 8,259.60 | 8,631.04 | 9,210.18 | 9,581.62 | 10,160.76 | 10,532.20 |
| Camarilla | 8,741.07 | 8,828.21 | 8,915.34 | 9,002.48 | 9,089.62 | 9,176.75 | 9,263.89 |
| Woodie | 7,576.61 | 8,207.68 | 8,527.19 | 9,158.26 | 9,477.77 | 10,108.84 | 10,428.35 |
| Fibonacci | 8,259.60 | 8,622.72 | 8,847.06 | 9,210.18 | 9,573.30 | 9,797.64 | 10,160.76 |
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): | 54.35 | |
| MACD (12,26,9): | 325.4700 | |
| Directional Movement: | 1.73 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 9,085.04 | |
| Parabolic SAR (0,02-0,02-0,2): | 5,304.55 | |
| Elder Ray (13): | 136.06 | |
| Super Trend (3,10): | 10,389.18 | |
| Zig ZAG (10): | 9,148.55 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 75.22 | |
| TEMA (21): | 9,348.63 | |
| Williams %R (14): | -27.27 | |
| Chande Momentum Oscillator (20): | 2,258.98 | |
| Repulse (5,40,3): | -1.2000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2900 | |
| Courbe Coppock: | 65.55 |
| MA7: | 9,224.93 | |
| MA20: | 9,371.80 | |
| MA50: | 9,406.34 | |
| MA100: | 8,427.15 | |
| MAexp7: | 9,161.80 | |
| MAexp20: | 8,735.76 | |
| MAexp50: | 8,343.95 | |
| MAexp100: | 7,682.10 | |
| Price / MA7: | -0.99% | |
| Price / MA20: | -2.54% | |
| Price / MA50: | -2.90% | |
| Price / MA100: | +8.39% | |
| Price / MAexp7: | -0.30% | |
| Price / MAexp20: | +4.56% | |
| Price / MAexp50: | +9.47% | |
| Price / MAexp100: | +18.90% |
Quotes :
2020-06-29 18:53:06
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis BITCOIN - BTC/USD - Weekly