BITCOIN - BTC/USD - Weekly - Technical analysis published on 07/03/2020 (GMT)
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- 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 (+13.97%)
12,932.90 USD (+42.12%)
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.
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
5.9
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This analysis was given by AKOUSA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 9,100.00 USD. The price registered an increase of +1.08% over 5 days and has been traded over the last 5 days between 9,016.71 USD and 9,299.39 USD. This implies that the 5 day price is +0.92% from its lowest point and -2.14% from its highest point.9,016.71
9,299.39
9,100.00
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend 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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of BITCOIN - BTC/USD indicates that the overall trend is bullish. 78.57% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative 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.
The probability of a further increase are moderate given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
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 | 9,100.00 | 10,371.20 | 12,932.90 | 19,345.50 |
| Change (%) | -65.03% | -35.44% | -7.72% | - | +13.97% | +42.12% | +112.59% |
| Change | -5,917.86 | -3,224.79 | -702.08 | - | +1,271.20 | +3,832.90 | +10,245.50 |
| Level | Major | Major | Minor | - | Major | Major | 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 | 8,610.40 | 8,777.01 | 8,932.95 | 9,099.57 | 9,255.51 | 9,422.13 | 9,578.07 |
| Camarilla | 9,000.20 | 9,029.77 | 9,059.33 | 9,088.90 | 9,118.47 | 9,148.04 | 9,177.60 |
| Woodie | 8,605.06 | 8,774.34 | 8,927.62 | 9,096.90 | 9,250.18 | 9,419.46 | 9,572.74 |
| Fibonacci | 8,777.01 | 8,900.23 | 8,976.35 | 9,099.57 | 9,222.78 | 9,298.91 | 9,422.13 |
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 | 6,974.83 | 7,906.79 | 8,520.79 | 9,452.75 | 10,066.75 | 10,998.71 | 11,612.71 |
| Camarilla | 8,709.66 | 8,851.37 | 8,993.09 | 9,134.80 | 9,276.51 | 9,418.23 | 9,559.94 |
| Woodie | 6,815.86 | 7,827.30 | 8,361.82 | 9,373.26 | 9,907.78 | 10,919.22 | 11,453.74 |
| Fibonacci | 7,906.79 | 8,497.34 | 8,862.19 | 9,452.75 | 10,043.30 | 10,408.15 | 10,998.71 |
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): | 54.07 | |
| MACD (12,26,9): | 321.8500 | |
| Directional Movement: | 1.72 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 9,076.65 | |
| Parabolic SAR (0,02-0,02-0,2): | 5,304.55 | |
| Elder Ray (13): | 198.42 | |
| Super Trend (3,10): | 10,389.18 | |
| Zig ZAG (10): | 9,099.98 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 74.84 | |
| TEMA (21): | 9,336.58 | |
| Williams %R (14): | -28.48 | |
| Chande Momentum Oscillator (20): | 2,204.55 | |
| Repulse (5,40,3): | -3.1900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2900 | |
| Courbe Coppock: | 65.26 |
| MA7: | 9,124.92 | |
| MA20: | 9,297.12 | |
| MA50: | 9,408.51 | |
| MA100: | 8,535.55 | |
| MAexp7: | 9,152.93 | |
| MAexp20: | 8,732.26 | |
| MAexp50: | 8,342.45 | |
| MAexp100: | 7,681.32 | |
| Price / MA7: | -0.27% | |
| Price / MA20: | -2.12% | |
| Price / MA50: | -3.28% | |
| Price / MA100: | +6.61% | |
| Price / MAexp7: | -0.58% | |
| Price / MAexp20: | +4.21% | |
| Price / MAexp50: | +9.08% | |
| Price / MAexp100: | +18.47% |
Quotes :
2020-07-03 16:34:31
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Real time data
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Cryptocompare
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