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
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
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.
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:
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:
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:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
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 |
---|---|---|---|---|---|---|---|
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 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
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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.
About author
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…
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