BITCOIN - BTC/USD - Daily - Technical analysis published on 08/07/2020 (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
78%
0%
22%
My opinion
Bullish above 10,371.20 USD
My targets
12,932.90 USD (+8.92%)
19,345.50 USD (+62.92%)
My analysis
The bullish trend is currently very strong on BITCOIN - BTC/USD. As long as the price remains above the support at 10,371.20 USD, you could try to benefit from the boom. The first bullish objective is located at 12,932.90 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 19,345.50 USD as an objective. 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
8.6
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This analysis was given by Edd8011. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 11,874.12 USD. On the day, this instrument gained +0.87% and was traded between 11,749.79 USD and 11,919.00 USD over the period. The price is currently at +1.06% from its lowest and -0.38% from its highest.11,749.79
11,919.00
11,874.12
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 (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of BITCOIN - BTC/USD indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being 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, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 9,141.45 | 10,371.20 | 11,828.90 | 11,874.12 | 12,932.90 | 19,345.50 |
| Change (%) | -23.01% | -12.66% | -0.38% | - | +8.92% | +62.92% |
| Change | -2,732.67 | -1,502.92 | -45.22 | - | +1,058.78 | +7,471.38 |
| Level | Major | Major | Major | - | 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 | 11,261.00 | 11,420.79 | 11,596.34 | 11,756.14 | 11,931.69 | 12,091.49 | 12,267.04 |
| Camarilla | 11,679.68 | 11,710.42 | 11,741.16 | 11,771.90 | 11,802.64 | 11,833.38 | 11,864.12 |
| Woodie | 11,268.88 | 11,424.73 | 11,604.23 | 11,760.08 | 11,939.58 | 12,095.43 | 12,274.93 |
| Fibonacci | 11,420.79 | 11,548.89 | 11,628.03 | 11,756.14 | 11,884.24 | 11,963.38 | 12,091.49 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 205.38 | 215.22 | 223.16 | 233.00 | 240.94 | 250.78 | 258.72 |
| Camarilla | 226.22 | 227.85 | 229.48 | 231.11 | 232.74 | 234.37 | 236.00 |
| Woodie | 204.44 | 214.75 | 222.22 | 232.53 | 240.00 | 250.31 | 257.78 |
| Fibonacci | 215.22 | 222.01 | 226.21 | 233.00 | 239.79 | 243.99 | 250.78 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9,504.35 | 8,305.38 | 9,750.99 | 8,552.02 | 9,997.63 | 8,798.66 | 10,244.27 |
| Camarilla | 11,128.77 | 11,151.38 | 11,173.99 | 11,196.60 | 11,219.21 | 11,241.82 | 11,264.43 |
| Woodie | 10,826.64 | 8,966.53 | 11,073.28 | 9,213.17 | 11,319.92 | 9,459.81 | 11,566.56 |
| Fibonacci | 8,305.38 | 8,399.60 | 8,457.80 | 8,552.02 | 8,646.24 | 8,704.44 | 8,798.66 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 58.58 | |
| MACD (12,26,9): | 462.3200 | |
| Directional Movement: | 13.54 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 11,190.07 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,202.60 | |
| Elder Ray (13): | 974.21 | |
| Super Trend (3,10): | 8,740.58 | |
| Zig ZAG (10): | 11,881.99 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 93.64 | |
| TEMA (21): | 11,418.40 | |
| Williams %R (14): | -4.95 | |
| Chande Momentum Oscillator (20): | 816.49 | |
| Repulse (5,40,3): | 3.8000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.6100 | |
| Courbe Coppock: | 25.94 |
| MA7: | 10,888.97 | |
| MA20: | 10,527.40 | |
| MA50: | 9,754.14 | |
| MA100: | 9,569.92 | |
| MAexp7: | 11,122.75 | |
| MAexp20: | 10,612.77 | |
| MAexp50: | 10,008.96 | |
| MAexp100: | 9,497.59 | |
| Price / MA7: | +9.05% | |
| Price / MA20: | +12.79% | |
| Price / MA50: | +21.73% | |
| Price / MA100: | +24.08% | |
| Price / MAexp7: | +6.76% | |
| Price / MAexp20: | +11.89% | |
| Price / MAexp50: | +18.63% | |
| Price / MAexp100: | +25.02% |
Quotes :
2020-08-07 03:17:36
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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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