BITCOIN - BTC/USD - 1H - Technical analysis published on 05/12/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 53,079.10 USD
My targets
49,116.20 USD (-3.91%)
48,360.57 USD (-5.39%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BITCOIN - BTC/USD as long as the price remains well below 53,079.10 USD. The sellers' bearish objective is set at 49,116.20 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 48,360.57 USD. In case of crossing, the next objective would be the support located at 40,672.60 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.7
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.
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Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 51,115.40 USD. On the day, this instrument lost -9.94% and was traded between 51,115.40 USD and 58,022.68 USD over the period. The price is currently at 0% from its lowest and -11.90% from its highest.51,115.40
58,022.68
51,115.40
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:
Technical
Technical analysis of this 1H chart of BITCOIN - BTC/USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
Long black line
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 30,409.80 | 40,672.60 | 49,116.20 | 51,115.40 | 53,079.10 | 53,748.10 | 55,290.90 |
| Change (%) | -40.51% | -20.43% | -3.91% | - | +3.84% | +5.15% | +8.17% |
| Change | -20,705.60 | -10,442.80 | -1,999.20 | - | +1,963.70 | +2,632.70 | +4,175.50 |
| Level | Major | Intermediate | Intermediate | - | Minor | Minor | Intermediate |
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 | 52,751.41 | 53,634.77 | 55,194.65 | 56,078.01 | 57,637.89 | 58,521.25 | 60,081.13 |
| Camarilla | 56,082.63 | 56,306.59 | 56,530.56 | 56,754.52 | 56,978.48 | 57,202.45 | 57,426.41 |
| Woodie | 53,089.66 | 53,803.90 | 55,532.90 | 56,247.14 | 57,976.14 | 58,690.38 | 60,419.38 |
| Fibonacci | 53,634.77 | 54,568.09 | 55,144.70 | 56,078.01 | 57,011.33 | 57,587.94 | 58,521.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 48,360.57 | 50,719.84 | 54,839.45 | 57,198.72 | 61,318.33 | 63,677.60 | 67,797.21 |
| Camarilla | 57,177.38 | 57,771.28 | 58,365.17 | 58,959.07 | 59,552.97 | 60,146.87 | 60,740.76 |
| Woodie | 49,240.75 | 51,159.93 | 55,719.63 | 57,638.81 | 62,198.51 | 64,117.69 | 68,677.39 |
| Fibonacci | 50,719.84 | 53,194.77 | 54,723.79 | 57,198.72 | 59,673.65 | 61,202.67 | 63,677.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30,416.90 | 38,730.20 | 48,264.70 | 56,578.00 | 66,112.50 | 74,425.80 | 83,960.30 |
| Camarilla | 52,891.06 | 54,527.10 | 56,163.15 | 57,799.20 | 59,435.25 | 61,071.30 | 62,707.35 |
| Woodie | 31,027.50 | 39,035.50 | 48,875.30 | 56,883.30 | 66,723.10 | 74,731.10 | 84,570.90 |
| Fibonacci | 38,730.20 | 45,548.06 | 49,760.14 | 56,578.00 | 63,395.86 | 67,607.94 | 74,425.80 |
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): | 23.71 | |
| MACD (12,26,9): | -860.7100 | |
| Directional Movement: | -37.65 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 54,217.10 | |
| Parabolic SAR (0,02-0,02-0,2): | 54,809.90 | |
| Elder Ray (13): | -2,030.79 | |
| Super Trend (3,10): | 55,473.00 | |
| Zig ZAG (10): | 52,635.10 | |
| VORTEX (21): | 0.7300 | |
| Stochastique (14,3,5): | 20.45 | |
| TEMA (21): | 53,409.59 | |
| Williams %R (14): | -88.98 | |
| Chande Momentum Oscillator (20): | -4,409.30 | |
| Repulse (5,40,3): | -3.7800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 10.62 |
| MA7: | 56,501.68 | |
| MA20: | 55,225.76 | |
| MA50: | 56,746.29 | |
| MA100: | 53,558.72 | |
| MAexp7: | 53,713.97 | |
| MAexp20: | 55,142.74 | |
| MAexp50: | 55,979.17 | |
| MAexp100: | 56,505.00 | |
| Price / MA7: | -9.53% | |
| Price / MA20: | -7.44% | |
| Price / MA50: | -9.92% | |
| Price / MA100: | -4.56% | |
| Price / MAexp7: | -4.84% | |
| Price / MAexp20: | -7.30% | |
| Price / MAexp50: | -8.69% | |
| Price / MAexp100: | -9.54% |
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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