BITCOIN - BTC/USD - Weekly - Technical analysis published on 01/28/2022 (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 (-19.90%)
19,345.50 USD (-47.99%)
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, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
2.9
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This analysis was given by sprangs. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 37,195.65 USD. The price registered an increase of +1.98% over 5 days and was traded between 32,983.10 USD and 37,547.20 USD over the period. The price is currently at +12.77% from its lowest point and -0.94% from its highest point.32,983.10
37,547.20
37,195.65
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Weekly chart of BITCOIN - BTC/USD indicates that the overall trend is not clearly defined. The strong bearish signals currently being given by short-term moving averages could allow the overall trend to return to a bearish trend. 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
In fact, 13 technical indicators on 18 studied are currently bearish. 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
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 37,195.65 | 40,643.20 | 52,682.50 | 63,577.00 |
| Change (%) | -65.23% | -47.99% | -19.90% | - | +9.27% | +41.64% | +70.93% |
| Change | -24,262.75 | -17,850.15 | -7,400.95 | - | +3,447.55 | +15,486.85 | +26,381.35 |
| 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 |
|---|---|---|---|---|---|---|---|
| Standard | 34,397.69 | 34,973.52 | 36,086.34 | 36,662.17 | 37,774.99 | 38,350.82 | 39,463.64 |
| Camarilla | 36,734.78 | 36,889.57 | 37,044.37 | 37,199.16 | 37,353.95 | 37,508.75 | 37,663.54 |
| Woodie | 34,666.19 | 35,107.77 | 36,354.84 | 36,796.42 | 38,043.49 | 38,485.07 | 39,732.14 |
| Fibonacci | 34,973.52 | 35,618.58 | 36,017.11 | 36,662.17 | 37,307.23 | 37,705.76 | 38,350.82 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 39.02 | |
| MACD (12,26,9): | -1,770.4400 | |
| Directional Movement: | -14.66 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 46,410.00 | |
| Parabolic SAR (0,02-0,02-0,2): | 62,820.70 | |
| Elder Ray (13): | -10,042.85 | |
| Super Trend (3,10): | 57,659.13 | |
| Zig ZAG (10): | 36,981.04 | |
| VORTEX (21): | 0.9200 | |
| Stochastique (14,3,5): | 8.59 | |
| TEMA (21): | 41,972.83 | |
| Williams %R (14): | -88.83 | |
| Chande Momentum Oscillator (20): | -26,318.33 | |
| Repulse (5,40,3): | -16.5300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.3400 | |
| Courbe Coppock: | 42.41 |
| MA7: | 36,462.72 | |
| MA20: | 40,305.40 | |
| MA50: | 44,649.91 | |
| MA100: | 52,106.32 | |
| MAexp7: | 42,438.54 | |
| MAexp20: | 47,296.29 | |
| MAexp50: | 44,164.20 | |
| MAexp100: | 35,583.46 | |
| Price / MA7: | +2.01% | |
| Price / MA20: | -7.72% | |
| Price / MA50: | -16.69% | |
| Price / MA100: | -28.62% | |
| Price / MAexp7: | -12.35% | |
| Price / MAexp20: | -21.36% | |
| Price / MAexp50: | -15.78% | |
| Price / MAexp100: | +4.53% |
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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