BITCOIN - BTC/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCUSD
ISIN:

BITCOIN - BTC/USD - Daily - Technical analysis published on 10/12/2021 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

17%

My opinion

Bullish above 52,682.50 USD

My targets

58,992.90 USD (+5.96%)

63,577.00 USD (+14.20%)

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 52,682.50 USD. The buyers' bullish objective is set at 58,992.90 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 63,577.00 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

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

8.4

Comment on the analysis

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 alphakarl. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The BITCOIN - BTC/USD price is 55,672.30 USD. The price is lower by -3.18% since the last closing and was traded between 55,524.70 USD and 57,595.00 USD over the period. The price is currently at +0.27% from its lowest and -3.34% from its highest.

55,524.70

57,595.00

55,672.30

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:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of BITCOIN - BTC/USD in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Moving Average bullish crossovers : MA20 & MA50

Type : Bullish

Timeframe : Daily

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Near resistance of channel

Type : Bearish

Timeframe : Daily

Near horizontal support

Type : Bullish

Timeframe : Daily

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Bullish engulfing lines

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	40,599.10	48,210.80	52,682.50	55,672.30	55,956.20	58,992.90	63,577.00
Change (%)	-27.07%	-13.40%	-5.37%	-	+0.51%	+5.96%	+14.20%
Change	-15,073.20	-7,461.50	-2,989.80	-	+283.90	+3,320.60	+7,904.70
Level	Intermediate	Intermediate	Major	-	Intermediate	Intermediate	Major

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	52,082.43	53,296.77	55,398.33	56,612.67	58,714.23	59,928.57	62,030.13
Camarilla	56,588.03	56,891.99	57,195.94	57,499.90	57,803.86	58,107.82	58,411.77
Woodie	52,526.05	53,518.58	55,841.95	56,834.48	59,157.85	60,150.38	62,473.75
Fibonacci	53,296.77	54,563.44	55,345.99	56,612.67	57,879.34	58,661.89	59,928.57

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	40,105.27	43,522.73	49,243.87	52,661.33	58,382.47	61,799.93	67,521.07
Camarilla	52,451.89	53,289.59	54,127.30	54,965.00	55,802.71	56,640.41	57,478.12
Woodie	41,257.10	44,098.65	50,395.70	53,237.25	59,534.30	62,375.85	68,672.90
Fibonacci	43,522.73	47,013.68	49,170.39	52,661.33	56,152.28	58,308.99	61,799.93

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	24,721.17	32,175.13	38,000.87	45,454.83	51,280.57	58,734.53	64,560.27
Camarilla	40,174.68	41,391.99	42,609.29	43,826.60	45,043.91	46,261.21	47,478.52
Woodie	23,907.05	31,768.08	37,186.75	45,047.78	50,466.45	58,327.48	63,746.15
Fibonacci	32,175.13	37,247.98	40,381.99	45,454.83	50,527.68	53,661.69	58,734.53

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	64.80
MACD (12,26,9):	2,802.3000
Directional Movement:	20.85
AROON (14):	85.72
DEMA (21):	53,878.66
Parabolic SAR (0,02-0,02-0,2):	49,890.35
Elder Ray (13):	4,234.54
Super Trend (3,10):	48,774.93
Zig ZAG (10):	55,628.30
VORTEX (21):	1.2900
Stochastique (14,3,5):	91.33
TEMA (21):	56,085.77
Williams %R (14):	-12.91
Chande Momentum Oscillator (20):	11,799.60
Repulse (5,40,3):	0.5800
ROCnROLL:	1
TRIX (15,9):	0.5100
Courbe Coppock:	54.49

MA7:	55,133.54
MA20:	48,648.66
MA50:	47,866.82
MA100:	43,558.39
MAexp7:	54,501.22
MAexp20:	50,733.34
MAexp50:	47,814.39
MAexp100:	45,669.14
Price / MA7:	+0.98%
Price / MA20:	+14.44%
Price / MA50:	+16.31%
Price / MA100:	+27.81%
Price / MAexp7:	+2.15%
Price / MAexp20:	+9.74%
Price / MAexp50:	+16.43%
Price / MAexp100:	+21.90%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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