BITCOIN - BTC/USD - Weekly - Technical analysis published on 01/26/2022 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Neutral
Technical indicators
17%
72%
11%
My opinion
Bearish under 40,643.20 USD
My targets
29,794.70 USD (-21.28%)
19,345.50 USD (-48.89%)
My analysis
The current short-term bearish acceleration registered on BITCOIN - BTC/USD should quickly allow the basic trend to return to a bearish trend. To avoid contradicting the short term, traders could favour short positions (for sale) as long as the price remains well below 40,643.20 USD. Short-term sellers will use the support located at 29,794.70 USD as an objective. A bearish break of this support would revive the bearish momentum. The next bearish objective would then be set at 19,345.50 USD. Crossing this support would then open the door for sellers to target 12,932.90 USD. Caution, if there is a return to below 40,643.20 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend buyers, many of whom will certainly benefit from this movement.
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
2.9
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This analysis was given by baltbach. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 37,847.84 USD. The price is lower by -7.06% over the 5 days and was traded between 32,983.10 USD and 37,498.70 USD over the period. The price is currently at +14.75% from its lowest point and +0.93% from its highest point.32,983.10
37,498.70
37,847.84
The Central Gaps scanner detects a bearish opening. A small advantage for sellers 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:
Technical
Technical analysis of BITCOIN - BTC/USD in Weekly shows a neutral overall trend. The trend could quickly turn bearish due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : Weekly
The probability of a further decline is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 12,932.90 | 19,345.50 | 29,794.70 | 37,847.84 | 40,643.20 | 52,682.50 | 63,577.00 |
| Change (%) | -65.83% | -48.89% | -21.28% | - | +7.39% | +39.20% | +67.98% |
| Change | -24,914.94 | -18,502.34 | -8,053.14 | - | +2,795.36 | +14,834.66 | +25,729.16 |
| Level | Major | Major | Major | - | Major | 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 | 34,121.55 | 34,921.03 | 35,948.29 | 36,747.77 | 37,775.03 | 38,574.51 | 39,601.77 |
| Camarilla | 36,473.21 | 36,640.66 | 36,808.11 | 36,975.56 | 37,143.01 | 37,310.46 | 37,477.91 |
| Woodie | 34,235.45 | 34,977.98 | 36,062.19 | 36,804.72 | 37,888.93 | 38,631.46 | 39,715.67 |
| Fibonacci | 34,921.03 | 35,618.84 | 36,049.95 | 36,747.77 | 37,445.58 | 37,876.69 | 38,574.51 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22,157.53 | 28,112.89 | 31,596.19 | 37,551.55 | 41,034.85 | 46,990.21 | 50,473.51 |
| Camarilla | 32,483.87 | 33,349.08 | 34,214.29 | 35,079.50 | 35,944.71 | 36,809.92 | 37,675.13 |
| Woodie | 20,921.51 | 27,494.88 | 30,360.17 | 36,933.54 | 39,798.83 | 46,372.20 | 49,237.49 |
| Fibonacci | 28,112.89 | 31,718.46 | 33,945.98 | 37,551.55 | 41,157.12 | 43,384.64 | 46,990.21 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 37,198.73 | 41,353.17 | 43,771.53 | 47,925.97 | 50,344.33 | 54,498.77 | 56,917.13 |
| Camarilla | 44,382.38 | 44,984.89 | 45,587.39 | 46,189.90 | 46,792.41 | 47,394.91 | 47,997.42 |
| Woodie | 36,330.70 | 40,919.15 | 42,903.50 | 47,491.95 | 49,476.30 | 54,064.75 | 56,049.10 |
| Fibonacci | 41,353.17 | 43,863.98 | 45,415.16 | 47,925.97 | 50,436.78 | 51,987.96 | 54,498.77 |
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): | 40.08 | |
| MACD (12,26,9): | -1,698.7700 | |
| Directional Movement: | -14.79 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 46,558.50 | |
| Parabolic SAR (0,02-0,02-0,2): | 62,820.70 | |
| Elder Ray (13): | -10,621.53 | |
| Super Trend (3,10): | 56,926.51 | |
| Zig ZAG (10): | 37,803.33 | |
| VORTEX (21): | 0.9200 | |
| Stochastique (14,3,5): | 9.34 | |
| TEMA (21): | 42,172.87 | |
| Williams %R (14): | -86.59 | |
| Chande Momentum Oscillator (20): | -25,500.12 | |
| Repulse (5,40,3): | -10.5800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.3500 | |
| Courbe Coppock: | 41.93 |
| MA7: | 37,152.06 | |
| MA20: | 40,588.15 | |
| MA50: | 44,942.62 | |
| MA100: | 52,390.31 | |
| MAexp7: | 42,677.08 | |
| MAexp20: | 47,388.35 | |
| MAexp50: | 44,201.37 | |
| MAexp100: | 35,601.44 | |
| Price / MA7: | +1.87% | |
| Price / MA20: | -6.75% | |
| Price / MA50: | -15.79% | |
| Price / MA100: | -27.76% | |
| Price / MAexp7: | -11.32% | |
| Price / MAexp20: | -20.13% | |
| Price / MAexp50: | -14.37% | |
| Price / MAexp100: | +6.31% |
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.
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