BITCOIN - BTC/USD - Weekly - Technical analysis published on 10/18/2021 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 52,682.50 USD
My targets
64,560.27 USD (+4.65%)
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 64,560.27 USD. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9
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 Currenciesboost. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 61,693.16 USD. The price is up +10.13% over 5 days and has been traded over the last 5 days between 56,870.20 USD and 62,865.40 USD. This implies that the 5 day price is +8.48% from its lowest point and -1.86% from its highest point.56,870.20
62,865.40
61,693.16
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of BITCOIN - BTC/USD in Weekly shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 16 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal resistance
Type : Bearish
Timeframe : Weekly
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 29,917.70 | 40,599.10 | 52,682.50 | 61,693.16 | 63,577.00 |
Change (%) | -51.51% | -34.19% | -14.61% | - | +3.05% |
Change | -31,775.46 | -21,094.06 | -9,010.66 | - | +1,883.84 |
Level | 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 | 57,228.13 | 58,146.84 | 59,838.72 | 60,757.43 | 62,449.31 | 63,368.02 | 65,059.90 |
Camarilla | 60,812.70 | 61,052.00 | 61,291.31 | 61,530.61 | 61,769.91 | 62,009.22 | 62,248.52 |
Woodie | 57,614.73 | 58,340.13 | 60,225.32 | 60,950.72 | 62,835.91 | 63,561.31 | 65,446.50 |
Fibonacci | 58,146.84 | 59,144.08 | 59,760.18 | 60,757.43 | 61,754.67 | 62,370.77 | 63,368.02 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 46,804.95 | 50,414.98 | 55,645.35 | 59,255.38 | 64,485.75 | 68,095.78 | 73,326.15 |
Camarilla | 58,444.62 | 59,254.99 | 60,065.36 | 60,875.73 | 61,686.10 | 62,496.47 | 63,306.84 |
Woodie | 47,615.13 | 50,820.07 | 56,455.53 | 59,660.47 | 65,295.93 | 68,500.87 | 74,136.33 |
Fibonacci | 50,414.98 | 53,792.01 | 55,878.34 | 59,255.38 | 62,632.41 | 64,718.74 | 68,095.78 |
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): | 66.44 | |
MACD (12,26,9): | 4,353.3800 | |
Directional Movement: | 9.99 | |
AROON (14): | 85.72 | |
DEMA (21): | 52,939.57 | |
Parabolic SAR (0,02-0,02-0,2): | 40,874.39 | |
Elder Ray (13): | 10,633.81 | |
Super Trend (3,10): | 39,706.90 | |
Zig ZAG (10): | 61,655.25 | |
VORTEX (21): | 1.2100 | |
Stochastique (14,3,5): | 95.42 | |
TEMA (21): | 54,230.79 | |
Williams %R (14): | -3.55 | |
Chande Momentum Oscillator (20): | 20,270.15 | |
Repulse (5,40,3): | 21.5000 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.7400 | |
Courbe Coppock: | 100.02 |
MA7: | 59,507.01 | |
MA20: | 53,853.04 | |
MA50: | 49,280.11 | |
MA100: | 45,148.04 | |
MAexp7: | 53,949.84 | |
MAexp20: | 47,873.96 | |
MAexp50: | 40,378.82 | |
MAexp100: | 30,920.73 | |
Price / MA7: | +3.67% | |
Price / MA20: | +14.56% | |
Price / MA50: | +25.19% | |
Price / MA100: | +36.65% | |
Price / MAexp7: | +14.35% | |
Price / MAexp20: | +28.87% | |
Price / MAexp50: | +52.79% | |
Price / MAexp100: | +99.52% |
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.
About author
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