BITCOIN - BTC/USD
BITCOIN - BTC/USD
- USD (-)
- Real time data - Cryptocompare
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Type: Cryptocurrencies
Ticker: BTCUSD
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BITCOIN - BTC/USD - 1H - Technical analysis published on 08/07/2020 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Court terme: Bullish
De fond: Strongly bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 11,580.60 USD
My targets
12,113.70 USD (+2.38%)
12,932.90 USD (+9.30%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BITCOIN - BTC/USD as long as the price remains well above 11,580.60 USD. The buyers” bullish objective is set at 12,113.70 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 ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.

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
6.3

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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The BITCOIN - BTC/USD price is 11,832.21 USD. The price has increased by +0.51% since the last closing with the lowest point at 11,735.76 USD and the highest point at 11,919.00 USD. The deviation from the price is +0.82% for the low point and -0.73% for the high point.

11,735.76
11,919.00
11,832.21

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Central Gaps

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:
The Central Records scanner, which identifies the highest / lowest, has detected an element:

Central Records

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of BITCOIN - BTC/USD in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly


Price is back under the pivot point

Type : Bearish

Timeframe : Weekly



Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Central Candlesticks

Bearish engulfing lines

Type : Bearish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 11,090.60 11,580.60 11,828.90 11,832.21 12,113.70 12,932.90 19,345.50
Change (%) -6.27% -2.13% -0.03% - +2.38% +9.30% +63.50%
Change -741.61 -251.61 -3.31 - +281.49 +1,100.69 +7,513.29
Level Minor Intermediate 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
Standard11,261.0011,420.7911,596.3411,756.1411,931.6912,091.4912,267.04
Camarilla11,679.6811,710.4211,741.1611,771.9011,802.6411,833.3811,864.12
Woodie11,268.8811,424.7311,604.2311,760.0811,939.5812,095.4312,274.93
Fibonacci11,420.7911,548.8911,628.0311,756.1411,884.2411,963.3812,091.49


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard205.38215.22223.16233.00240.94250.78258.72
Camarilla226.22227.85229.48231.11232.74234.37236.00
Woodie204.44214.75222.22232.53240.00250.31257.78
Fibonacci215.22222.01226.21233.00239.79243.99250.78


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard9,504.358,305.389,750.998,552.029,997.638,798.6610,244.27
Camarilla11,128.7711,151.3811,173.9911,196.6011,219.2111,241.8211,264.43
Woodie10,826.648,966.5311,073.289,213.1711,319.929,459.8111,566.56
Fibonacci8,305.388,399.608,457.808,552.028,646.248,704.448,798.66

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): 55.05
MACD (12,26,9): 31.8100
Directional Movement: -2.52
AROON (14): 42.85
DEMA (21): 11,839.32
Parabolic SAR (0,02-0,02-0,2): 11,691.29
Elder Ray (13): -31.17
Super Trend (3,10): 11,632.32
Zig ZAG (10): 11,777.15
VORTEX (21): 1.0300
Stochastique (14,3,5): 53.85
TEMA (21): 11,810.11
Williams %R (14): -47.01
Chande Momentum Oscillator (20): 62.53
Repulse (5,40,3): 0.4500
ROCnROLL: 1
TRIX (15,9): 0.0500
Courbe Coppock: 0.34
MA7: 10,881.83
MA20: 10,523.84
MA50: 9,752.41
MA100: 9,569.13
MAexp7: 11,815.17
MAexp20: 11,800.04
MAexp50: 11,693.88
MAexp100: 11,561.65
Price / MA7: +8.73%
Price / MA20: +12.43%
Price / MA50: +21.33%
Price / MA100: +23.65%
Price / MAexp7: +0.14%
Price / MAexp20: +0.27%
Price / MAexp50: +1.18%
Price / MAexp100: +2.34%

Quotes : 2020-08-07 08:37:39 - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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