BITCOIN - BTC/USD - 1H - Technical analysis published on 10/16/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 11,504.60 USD
My targets
11,309.60 USD (-0.62%)
10,962.70 USD (-3.67%)
My analysis
BITCOIN - BTC/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 11,504.60 USD. The next support located at 11,309.60 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 10,962.70 USD. Below this support, sellers could then target 10,840.90 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
4.1
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This analysis was given by TurtleHermitZ9k. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 11,379.90 USD. The price is lower by -1.05% since the last closing and was between 11,207.40 USD and 11,549.00 USD. This implies that the price is at +1.54% from its lowest and at -1.46% from its highest.11,207.40
11,549.00
11,379.90
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BITCOIN - BTC/USD chart shows a sharp bearish trend. The signals given by moving averages are 82.14% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
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 bullish signal that could support the hypothesis of a small rebound in the very short term:
Long white line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10,840.90 | 10,962.70 | 11,309.60 | 11,379.90 | 11,504.60 | 11,725.90 | 12,303.60 |
| Change (%) | -4.74% | -3.67% | -0.62% | - | +1.10% | +3.04% | +8.12% |
| Change | -539.00 | -417.20 | -70.30 | - | +124.70 | +346.00 | +923.70 |
| Level | Intermediate | Minor | Major | - | Major | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10,929.23 | 11,092.27 | 11,296.63 | 11,459.67 | 11,664.03 | 11,827.07 | 12,031.43 |
| Camarilla | 11,399.97 | 11,433.64 | 11,467.32 | 11,501.00 | 11,534.68 | 11,568.36 | 11,602.04 |
| Woodie | 10,949.90 | 11,102.60 | 11,317.30 | 11,470.00 | 11,684.70 | 11,837.40 | 12,052.10 |
| Fibonacci | 11,092.27 | 11,232.61 | 11,319.32 | 11,459.67 | 11,600.01 | 11,686.72 | 11,827.07 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9,745.37 | 10,134.43 | 10,716.87 | 11,105.93 | 11,688.37 | 12,077.43 | 12,659.87 |
| Camarilla | 11,032.14 | 11,121.19 | 11,210.25 | 11,299.30 | 11,388.35 | 11,477.41 | 11,566.46 |
| Woodie | 9,842.05 | 10,182.78 | 10,813.55 | 11,154.28 | 11,785.05 | 12,125.78 | 12,756.55 |
| Fibonacci | 10,134.43 | 10,505.55 | 10,734.82 | 11,105.93 | 11,477.05 | 11,706.32 | 12,077.43 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,533.72 | 8,697.37 | 9,736.49 | 10,900.14 | 11,939.26 | 13,102.91 | 14,142.03 |
| Camarilla | 10,169.84 | 10,371.76 | 10,573.68 | 10,775.60 | 10,977.52 | 11,179.44 | 11,381.36 |
| Woodie | 7,471.45 | 8,666.24 | 9,674.22 | 10,869.01 | 11,876.98 | 13,071.78 | 14,079.75 |
| Fibonacci | 8,697.37 | 9,538.83 | 10,058.69 | 10,900.14 | 11,741.60 | 12,261.46 | 13,102.91 |
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): | 46.42 | |
| MACD (12,26,9): | -27.2600 | |
| Directional Movement: | -16.13 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 11,361.49 | |
| Parabolic SAR (0,02-0,02-0,2): | 11,560.72 | |
| Elder Ray (13): | -6.32 | |
| Super Trend (3,10): | 11,466.06 | |
| Zig ZAG (10): | 11,373.50 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 43.03 | |
| TEMA (21): | 11,334.04 | |
| Williams %R (14): | -49.85 | |
| Chande Momentum Oscillator (20): | -132.10 | |
| Repulse (5,40,3): | 0.5800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 2.84 |
| MA7: | 11,421.06 | |
| MA20: | 10,975.04 | |
| MA50: | 10,843.25 | |
| MA100: | 10,807.51 | |
| MAexp7: | 11,351.06 | |
| MAexp20: | 11,387.22 | |
| MAexp50: | 11,404.85 | |
| MAexp100: | 11,386.40 | |
| Price / MA7: | -0.36% | |
| Price / MA20: | +3.69% | |
| Price / MA50: | +4.95% | |
| Price / MA100: | +5.30% | |
| Price / MAexp7: | +0.25% | |
| Price / MAexp20: | -0.06% | |
| Price / MAexp50: | -0.22% | |
| Price / MAexp100: | -0.06% |
Quotes :
2020-10-16 12:55:43
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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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