BITCOIN - BTC/USD
BITCOIN - BTC/USD
- USD (-)
- Real time data - Cryptocompare
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Cryptocurrencies
Ticker: BTCUSD
ISIN:

BITCOIN - BTC/USD - Weekly - Technical analysis published on 01/23/2022 (GMT)

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  • Timeframe : Weekly
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Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Slightly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 40,643.20 USD
My targets
29,794.70 USD (-15.41%)
19,345.50 USD (-45.08%)
My analysis
BITCOIN - BTC/USD is currently trying to strengthen its basic trend with a very bearish short term. As long as the price remains below 40,643.20 USD, traders may consider taking advantage of this bearish acceleration and setting themselves to trade only in short positions (for sale). Sellers will encounter the support at 29,794.70 USD. A bearish break in this support would confirm a continuation of the bearish acceleration. The next support located at 19,345.50 USD would then be the next bearish objective for sellers. Crossing it would then enable sellers to target 12,932.90 USD. Beware of a possible return to above the resistance located at 40,643.20 USD which would be a sign of a correction of the short-term bearish excesses registered.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
4.3

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 Sharkyboy1. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Daily

Additional analysis

Quotes

BITCOIN - BTC/USD rating 35,224.16 USD. The price registered a decrease of -16.58% over 5 days and was traded between 35,466.70 USD and 43,506.90 USD over the period. The price is currently at -0.68% from its lowest point and -19.04% from its highest point.

35,466.70
43,506.90
35,224.16

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The Central Records scanner for higher/lower results shows the following items:

Central Records

New LOW record (1st january)

Type : Bearish

Timeframe : Weekly


Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly


New LOW record (1 month)

Type : Bearish

Timeframe : Weekly


Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this Weekly chart of BITCOIN - BTC/USD indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. The overall trend could accelerate as a result of the strong bearish signals from short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:

Central Indicators

Bearish trend reversal : Moving Average 50

Type : Bearish

Timeframe : Weekly


Bearish trend reversal : adaptative moving average 100

Type : Bearish

Timeframe : Weekly



Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Weekly


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Weekly

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Central Indicators

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Central Patterns

Support of channel is broken

Type : Bearish

Timeframe : Weekly



The presence of these bullish Japanese candlestick patterns detected by Central Candlesticks that could cause a very short term rebound were also noted:

Central Candlesticks

Bullish harami

Type : Bullish

Timeframe : Weekly


Bullish harami cross

Type : Bullish

Timeframe : Weekly




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 12,932.90 19,345.50 29,794.70 35,224.16 40,643.20 52,682.50 63,577.00
Change (%) -63.28% -45.08% -15.41% - +15.38% +49.56% +80.49%
Change -22,291.26 -15,878.66 -5,429.46 - +5,419.04 +17,458.34 +28,352.84
Level Major Major Major - Major Intermediate Major



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard31,090.6332,579.4333,829.4735,318.2736,568.3138,057.1139,307.15
Camarilla34,326.3234,577.3834,828.4435,079.5035,330.5635,581.6235,832.68
Woodie30,971.2432,519.7433,710.0835,258.5836,448.9237,997.4239,187.76
Fibonacci32,579.4333,625.6734,272.0435,318.2736,364.5137,010.8838,057.11


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard22,157.5328,112.8931,596.1937,551.5541,034.8546,990.2150,473.51
Camarilla32,483.8733,349.0834,214.2935,079.5035,944.7136,809.9237,675.13
Woodie20,921.5127,494.8830,360.1736,933.5439,798.8346,372.2049,237.49
Fibonacci28,112.8931,718.4633,945.9837,551.5541,157.1243,384.6446,990.21


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard37,198.7341,353.1743,771.5347,925.9750,344.3354,498.7756,917.13
Camarilla44,382.3844,984.8945,587.3946,189.9046,792.4147,394.9147,997.42
Woodie36,330.7040,919.1542,903.5047,491.9549,476.3054,064.7556,049.10
Fibonacci41,353.1743,863.9845,415.1647,925.9750,436.7851,987.9654,498.77

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): 37.09
MACD (12,26,9): -1,896.2700
Directional Movement: -14.24
AROON (14): -71.43
DEMA (21): 46,137.39
Parabolic SAR (0,02-0,02-0,2): 62,820.70
Elder Ray (13): -10,256.90
Super Trend (3,10): 55,838.98
Zig ZAG (10): 35,326.98
VORTEX (21): 0.9200
Stochastique (14,3,5): 6.05
TEMA (21): 41,552.22
Williams %R (14): -96.45
Chande Momentum Oscillator (20): -28,003.56
Repulse (5,40,3): -23.7600
ROCnROLL: 2
TRIX (15,9): 0.3400
Courbe Coppock: 43.34
MA7: 39,127.57
MA20: 41,584.91
MA50: 45,707.25
MA100: 53,110.29
MAexp7: 42,049.11
MAexp20: 47,149.18
MAexp50: 44,104.00
MAexp100: 35,552.23
Price / MA7: -9.98%
Price / MA20: -15.30%
Price / MA50: -22.94%
Price / MA100: -33.68%
Price / MAexp7: -16.23%
Price / MAexp20: -25.29%
Price / MAexp50: -20.13%
Price / MAexp100: -0.92%

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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