BITCOIN - BTC/USD - 1H - Technical analysis published on 04/19/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
6%
44%
My opinion
Bearish under 57,846.80 USD
My targets
55,922.80 USD (-1.58%)
52,150.53 USD (-8.22%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 57,846.80 USD remains possible. It is advisable to trade BITCOIN - BTC/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 57,846.80 USD. The next bearish objective for sellers is set at 55,922.80 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 52,150.53 USD. In case of crossing, the next objective would be the support located at 40,672.60 USD. PS: if there is a bullish break in the resistance located at 57,846.80 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.1
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Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 56,822.34 USD. On the day, this instrument gained +0.97% and was traded between 55,808.83 USD and 57,459.42 USD over the period. The price is currently at +1.82% from its lowest and -1.11% from its highest.55,808.83
57,459.42
56,822.34
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
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of BITCOIN - BTC/USD indicates that the overall trend is bearish. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
The probability of a further increase is slight given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 30,409.80 | 40,672.60 | 55,922.80 | 56,822.34 | 57,846.80 | 59,369.70 | 60,048.80 |
| Change (%) | -46.48% | -28.42% | -1.58% | - | +1.80% | +4.48% | +5.68% |
| Change | -26,412.54 | -16,149.74 | -899.54 | - | +1,024.46 | +2,547.36 | +3,226.46 |
| Level | Major | Intermediate | Major | - | Minor | Minor | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 43,968.73 | 48,092.15 | 52,184.54 | 56,307.96 | 60,400.35 | 64,523.77 | 68,616.16 |
| Camarilla | 54,017.57 | 54,770.69 | 55,523.80 | 56,276.92 | 57,030.04 | 57,783.15 | 58,536.27 |
| Woodie | 43,953.21 | 48,084.39 | 52,169.02 | 56,300.20 | 60,384.83 | 64,516.01 | 68,600.64 |
| Fibonacci | 48,092.15 | 51,230.59 | 53,169.52 | 56,307.96 | 59,446.40 | 61,385.33 | 64,523.77 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52,150.53 | 55,663.81 | 57,864.73 | 61,378.01 | 63,578.93 | 67,092.21 | 69,293.13 |
| Camarilla | 58,494.24 | 59,018.04 | 59,541.84 | 60,065.64 | 60,589.44 | 61,113.24 | 61,637.05 |
| Woodie | 51,494.34 | 55,335.72 | 57,208.54 | 61,049.92 | 62,922.74 | 66,764.12 | 68,636.94 |
| Fibonacci | 55,663.81 | 57,846.64 | 59,195.19 | 61,378.01 | 63,560.84 | 64,909.39 | 67,092.21 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31,887.30 | 38,464.90 | 48,631.10 | 55,208.70 | 65,374.90 | 71,952.50 | 82,118.70 |
| Camarilla | 54,192.76 | 55,727.60 | 57,262.45 | 58,797.30 | 60,332.15 | 61,867.00 | 63,401.85 |
| Woodie | 33,681.60 | 39,362.05 | 50,425.40 | 56,105.85 | 67,169.20 | 72,849.65 | 83,913.00 |
| Fibonacci | 38,464.90 | 44,861.03 | 48,812.57 | 55,208.70 | 61,604.83 | 65,556.37 | 71,952.50 |
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): | 49.54 | |
| MACD (12,26,9): | -134.7400 | |
| Directional Movement: | -7.78 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 56,193.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 56,055.62 | |
| Elder Ray (13): | 230.51 | |
| Super Trend (3,10): | 58,136.25 | |
| Zig ZAG (10): | 56,705.18 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 72.58 | |
| TEMA (21): | 56,915.40 | |
| Williams %R (14): | -31.16 | |
| Chande Momentum Oscillator (20): | 946.28 | |
| Repulse (5,40,3): | -0.1600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 5.26 |
| MA7: | 60,632.62 | |
| MA20: | 59,255.62 | |
| MA50: | 56,537.66 | |
| MA100: | 48,834.62 | |
| MAexp7: | 56,798.25 | |
| MAexp20: | 56,607.95 | |
| MAexp50: | 57,740.01 | |
| MAexp100: | 59,127.08 | |
| Price / MA7: | -6.28% | |
| Price / MA20: | -4.11% | |
| Price / MA50: | +0.50% | |
| Price / MA100: | +16.36% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.38% | |
| Price / MAexp50: | -1.59% | |
| Price / MAexp100: | -3.90% |
Quotes :
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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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