BITCOIN - BTC/USD - Daily - Technical analysis published on 08/01/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 10,371.20 USD
My targets
12,932.90 USD (+10.75%)
14,760.40 USD (+26.40%)
My analysis
BITCOIN - BTC/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 10,371.20 USD. The next resistance located at 12,932.90 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 14,760.40 USD. After this resistance, buyers could then target 19,345.50 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.9
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This analysis was given by lokisynz1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 11,677.99 USD. On the day, this instrument gained +2.88% and was between 11,239.40 USD and 11,749.78 USD. This implies that the price is at +3.90% from its lowest and at -0.61% from its highest.11,239.40
11,749.78
11,677.99
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
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. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 7,367.90 | 9,149.89 | 10,371.20 | 11,677.99 | 12,932.90 | 19,345.50 |
| Change (%) | -36.91% | -21.65% | -11.19% | - | +10.75% | +65.66% |
| Change | -4,310.09 | -2,528.10 | -1,306.79 | - | +1,254.91 | +7,667.51 |
| Level | Minor | Major | Major | - | 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 | 10,581.48 | 10,778.55 | 11,065.11 | 11,262.18 | 11,548.74 | 11,745.81 | 12,032.37 |
| Camarilla | 11,218.68 | 11,263.01 | 11,307.35 | 11,351.68 | 11,396.01 | 11,440.35 | 11,484.68 |
| Woodie | 10,626.24 | 10,800.92 | 11,109.87 | 11,284.55 | 11,593.50 | 11,768.18 | 12,077.12 |
| Fibonacci | 10,778.55 | 10,963.29 | 11,077.43 | 11,262.18 | 11,446.92 | 11,561.06 | 11,745.81 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,663.19 | 8,886.64 | 9,299.15 | 9,522.60 | 9,935.11 | 10,158.56 | 10,571.07 |
| Camarilla | 9,536.77 | 9,595.07 | 9,653.36 | 9,711.66 | 9,769.96 | 9,828.25 | 9,886.55 |
| Woodie | 8,757.72 | 8,933.91 | 9,393.68 | 9,569.87 | 10,029.64 | 10,205.83 | 10,665.60 |
| Fibonacci | 8,886.64 | 9,129.58 | 9,279.66 | 9,522.60 | 9,765.54 | 9,915.62 | 10,158.56 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,171.45 | 8,050.52 | 9,701.10 | 10,580.17 | 12,230.75 | 13,109.82 | 14,760.40 |
| Camarilla | 10,656.03 | 10,887.91 | 11,119.80 | 11,351.68 | 11,583.56 | 11,815.45 | 12,047.33 |
| Woodie | 7,557.20 | 8,243.40 | 10,086.86 | 10,773.05 | 12,616.51 | 13,302.70 | 15,146.16 |
| Fibonacci | 8,050.52 | 9,016.85 | 9,613.84 | 10,580.17 | 11,546.50 | 12,143.49 | 13,109.82 |
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): | 85.05 | |
| MACD (12,26,9): | 554.3500 | |
| Directional Movement: | 38.12 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 10,863.13 | |
| Parabolic SAR (0,02-0,02-0,2): | 10,245.76 | |
| Elder Ray (13): | 925.22 | |
| Super Trend (3,10): | 10,284.73 | |
| Zig ZAG (10): | 11,748.53 | |
| VORTEX (21): | 1.3000 | |
| Stochastique (14,3,5): | 94.27 | |
| TEMA (21): | 11,307.09 | |
| Williams %R (14): | -0.68 | |
| Chande Momentum Oscillator (20): | 2,568.09 | |
| Repulse (5,40,3): | 9.3900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4800 | |
| Courbe Coppock: | 38.73 |
| MA7: | 11,029.96 | |
| MA20: | 9,928.31 | |
| MA50: | 9,544.70 | |
| MA100: | 9,363.46 | |
| MAexp7: | 11,019.58 | |
| MAexp20: | 10,246.89 | |
| MAexp50: | 9,711.06 | |
| MAexp100: | 9,285.39 | |
| Price / MA7: | +5.88% | |
| Price / MA20: | +17.62% | |
| Price / MA50: | +22.35% | |
| Price / MA100: | +24.72% | |
| Price / MAexp7: | +5.97% | |
| Price / MAexp20: | +13.97% | |
| Price / MAexp50: | +20.25% | |
| Price / MAexp100: | +25.77% |
Quotes :
2020-08-01 18:16:15
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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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