BITCOIN - BTC/USD - Daily - Technical analysis published on 07/03/2021 (GMT)
- Who voted?
- 365
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
56%
28%
17%
My opinion
Bearish under 35,063.99 USD
My targets
30,409.80 USD (-9.76%)
23,871.50 USD (-29.16%)
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 35,063.99 USD. The next support located at 30,409.80 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 23,871.50 USD. Below this support, sellers could then target 19,345.50 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.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5.2
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 kaptan. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 33,697.84 USD. The price registered a decrease of -0.32% on the session and was traded between 33,340.64 USD and 33,909.45 USD over the period. The price is currently at +1.07% from its lowest and -0.62% from its highest.33,340.64
33,909.45
33,697.84
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Daily chart of BITCOIN - BTC/USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
On the 18 technical indicators analysed, 10 are bullish, 3 are neutral and 5 are bearish. The Central Indicators scanner found this result concerning these indicators:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 19,345.50 | 23,871.50 | 30,409.80 | 33,697.84 | 40,672.60 | 51,327.60 | 63,577.00 |
| Change (%) | -42.59% | -29.16% | -9.76% | - | +20.70% | +52.32% | +88.67% |
| Change | -14,352.34 | -9,826.34 | -3,288.04 | - | +6,974.76 | +17,629.76 | +29,879.16 |
| Level | Major | Minor | Major | - | Intermediate | 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 | 31,797.69 | 32,261.49 | 33,034.75 | 33,498.55 | 34,271.81 | 34,735.61 | 35,508.87 |
| Camarilla | 33,467.83 | 33,581.23 | 33,694.62 | 33,808.02 | 33,921.42 | 34,034.81 | 34,148.21 |
| Woodie | 31,952.43 | 32,338.86 | 33,189.49 | 33,575.92 | 34,426.55 | 34,812.98 | 35,663.61 |
| Fibonacci | 32,261.49 | 32,734.04 | 33,025.99 | 33,498.55 | 33,971.10 | 34,263.05 | 34,735.61 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21,429.13 | 25,131.36 | 28,709.63 | 32,411.86 | 35,990.13 | 39,692.36 | 43,270.63 |
| Camarilla | 30,285.75 | 30,953.13 | 31,620.51 | 32,287.89 | 32,955.27 | 33,622.65 | 34,290.03 |
| Woodie | 21,367.14 | 25,100.37 | 28,647.64 | 32,380.87 | 35,928.14 | 39,661.37 | 43,208.64 |
| Fibonacci | 25,131.36 | 27,912.51 | 29,630.71 | 32,411.86 | 35,193.01 | 36,911.21 | 39,692.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16,332.98 | 22,583.29 | 28,813.68 | 35,063.99 | 41,294.38 | 47,544.69 | 53,775.08 |
| Camarilla | 31,611.88 | 32,755.94 | 33,900.01 | 35,044.07 | 36,188.13 | 37,332.20 | 38,476.26 |
| Woodie | 16,323.02 | 22,578.31 | 28,803.72 | 35,059.01 | 41,284.42 | 47,539.71 | 53,765.12 |
| Fibonacci | 22,583.29 | 27,350.92 | 30,296.36 | 35,063.99 | 39,831.62 | 42,777.06 | 47,544.69 |
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): | 44.49 | |
| MACD (12,26,9): | -1,145.2200 | |
| Directional Movement: | -9.38 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 33,166.48 | |
| Parabolic SAR (0,02-0,02-0,2): | 36,671.02 | |
| Elder Ray (13): | -730.91 | |
| Super Trend (3,10): | 40,467.50 | |
| Zig ZAG (10): | 33,738.52 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 58.88 | |
| TEMA (21): | 33,902.77 | |
| Williams %R (14): | -36.67 | |
| Chande Momentum Oscillator (20): | 2,097.22 | |
| Repulse (5,40,3): | 1.1400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.5000 | |
| Courbe Coppock: | 11.88 |
| MA7: | 34,462.89 | |
| MA20: | 35,080.36 | |
| MA50: | 36,818.66 | |
| MA100: | 46,710.29 | |
| MAexp7: | 34,086.55 | |
| MAexp20: | 34,864.40 | |
| MAexp50: | 38,315.64 | |
| MAexp100: | 41,734.36 | |
| Price / MA7: | -2.22% | |
| Price / MA20: | -3.94% | |
| Price / MA50: | -8.48% | |
| Price / MA100: | -27.86% | |
| Price / MAexp7: | -1.14% | |
| Price / MAexp20: | -3.35% | |
| Price / MAexp50: | -12.05% | |
| Price / MAexp100: | -19.26% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis BITCOIN - BTC/USD - Daily