BITCOIN - BTC/USD - Daily - Technical analysis published on 10/23/2021 (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
56%
17%
28%
My opinion
Bullish above 58,959.10 USD
My targets
63,577.00 USD (+4.01%)
My analysis
BITCOIN - BTC/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 58,959.10 USD. The next resistance located at 63,577.00 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
0
10
7.3
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This analysis was given by AKOUSA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 61,127.71 USD. On the day, this instrument gained +0.72% and was traded between 59,684.82 USD and 61,723.76 USD over the period. The price is currently at +2.42% from its lowest and -0.97% from its highest.59,684.82
61,723.76
61,127.71
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:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this BITCOIN - BTC/USD chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
The probability of a further increase are moderate given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 48,210.80 | 52,682.50 | 58,959.10 | 61,127.71 | 63,577.00 |
| Change (%) | -21.13% | -13.82% | -3.55% | - | +4.01% |
| Change | -12,916.91 | -8,445.21 | -2,168.61 | - | +2,449.29 |
| Level | Intermediate | Intermediate | Intermediate | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55,553.92 | 57,798.27 | 59,245.21 | 61,489.56 | 62,936.50 | 65,180.85 | 66,627.79 |
| Camarilla | 59,677.06 | 60,015.42 | 60,353.79 | 60,692.16 | 61,030.53 | 61,368.90 | 61,707.27 |
| Woodie | 55,155.23 | 57,598.92 | 58,846.52 | 61,290.21 | 62,537.81 | 64,981.50 | 66,229.10 |
| Fibonacci | 57,798.27 | 59,208.34 | 60,079.48 | 61,489.56 | 62,899.63 | 63,770.77 | 65,180.85 |
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): | 61.88 | |
| MACD (12,26,9): | 3,807.3300 | |
| Directional Movement: | 13.83 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 63,057.07 | |
| Parabolic SAR (0,02-0,02-0,2): | 66,835.73 | |
| Elder Ray (13): | 576.79 | |
| Super Trend (3,10): | 56,363.18 | |
| Zig ZAG (10): | 61,131.98 | |
| VORTEX (21): | 1.1900 | |
| Stochastique (14,3,5): | 57.30 | |
| TEMA (21): | 64,646.03 | |
| Williams %R (14): | -44.77 | |
| Chande Momentum Oscillator (20): | 3,677.26 | |
| Repulse (5,40,3): | -2.3000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 1.1000 | |
| Courbe Coppock: | 32.66 |
| MA7: | 62,557.85 | |
| MA20: | 58,118.32 | |
| MA50: | 50,729.41 | |
| MA100: | 46,647.98 | |
| MAexp7: | 61,638.42 | |
| MAexp20: | 58,097.65 | |
| MAexp50: | 52,716.93 | |
| MAexp100: | 48,879.55 | |
| Price / MA7: | -2.29% | |
| Price / MA20: | +5.18% | |
| Price / MA50: | +20.50% | |
| Price / MA100: | +31.04% | |
| Price / MAexp7: | -0.83% | |
| Price / MAexp20: | +5.22% | |
| Price / MAexp50: | +15.95% | |
| Price / MAexp100: | +25.06% |
Quotes :
-
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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