BITCOIN - BTC/USD - Daily - Technical analysis published on 05/16/2022 (GMT)
- 150
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 31,080.83 USD
My targets
24,551.87 USD (-17.08%)
19,345.50 USD (-34.66%)
My analysis
BITCOIN - BTC/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 31,080.83 USD. The next support located at 24,551.87 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 19,345.50 USD. Below this support, sellers could then target 12,932.90 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.8
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 MiaC. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 29,608.49 USD. The price is lower by -5.39% since the last closing with the lowest point at 29,306.89 USD and the highest point at 31,296.30 USD. The deviation from the price is +1.03% for the low point and -5.39% for the high point.29,306.89
31,296.30
29,608.49
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
Technical
A technical analysis in Daily of this BITCOIN - BTC/USD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal support
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4,835.20 | 12,932.90 | 19,345.50 | 29,608.49 | 29,794.70 | 35,079.50 | 40,632.20 |
| Change (%) | -83.67% | -56.32% | -34.66% | - | +0.63% | +18.48% | +37.23% |
| Change | -24,773.29 | -16,675.59 | -10,262.99 | - | +186.21 | +5,471.01 | +11,023.71 |
| Level | Minor | Major | Major | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 28,110.90 | 28,788.35 | 30,042.48 | 30,719.93 | 31,974.06 | 32,651.51 | 33,905.64 |
| Camarilla | 30,765.43 | 30,942.49 | 31,119.55 | 31,296.61 | 31,473.67 | 31,650.73 | 31,827.80 |
| Woodie | 28,399.24 | 28,932.52 | 30,330.82 | 30,864.10 | 32,262.40 | 32,795.68 | 34,193.98 |
| Fibonacci | 28,788.35 | 29,526.21 | 29,982.07 | 30,719.93 | 31,457.79 | 31,913.65 | 32,651.51 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15,801.30 | 20,829.35 | 25,440.40 | 30,468.45 | 35,079.50 | 40,107.55 | 44,718.60 |
| Camarilla | 27,400.70 | 28,284.28 | 29,167.87 | 30,051.45 | 30,935.03 | 31,818.62 | 32,702.20 |
| Woodie | 15,592.80 | 20,725.10 | 25,231.90 | 30,364.20 | 34,871.00 | 40,003.30 | 44,510.10 |
| Fibonacci | 20,829.35 | 24,511.49 | 26,786.31 | 30,468.45 | 34,150.59 | 36,425.41 | 40,107.55 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 24,551.87 | 31,080.83 | 34,369.97 | 40,898.93 | 44,188.07 | 50,717.03 | 54,006.17 |
| Camarilla | 34,959.12 | 35,859.12 | 36,759.11 | 37,659.10 | 38,559.09 | 39,459.09 | 40,359.08 |
| Woodie | 22,931.95 | 30,270.88 | 32,750.05 | 40,088.98 | 42,568.15 | 49,907.08 | 52,386.25 |
| Fibonacci | 31,080.83 | 34,831.35 | 37,148.42 | 40,898.93 | 44,649.45 | 46,966.52 | 50,717.03 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 32.72 | |
| MACD (12,26,9): | -2,832.6800 | |
| Directional Movement: | -19.58 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 30,088.78 | |
| Parabolic SAR (0,02-0,02-0,2): | 25,968.20 | |
| Elder Ray (13): | -1,824.24 | |
| Super Trend (3,10): | 35,380.14 | |
| Zig ZAG (10): | 29,668.79 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 31.83 | |
| TEMA (21): | 28,741.78 | |
| Williams %R (14): | -72.19 | |
| Chande Momentum Oscillator (20): | -9,887.37 | |
| Repulse (5,40,3): | -1.6900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.9400 | |
| Courbe Coppock: | 42.99 |
| MA7: | 29,900.42 | |
| MA20: | 34,565.87 | |
| MA50: | 39,313.54 | |
| MA100: | 40,245.86 | |
| MAexp7: | 30,657.08 | |
| MAexp20: | 33,680.14 | |
| MAexp50: | 37,270.98 | |
| MAexp100: | 39,825.73 | |
| Price / MA7: | -0.98% | |
| Price / MA20: | -14.34% | |
| Price / MA50: | -24.69% | |
| Price / MA100: | -26.43% | |
| Price / MAexp7: | -3.43% | |
| Price / MAexp20: | -12.10% | |
| Price / MAexp50: | -20.57% | |
| Price / MAexp100: | -25.67% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis BITCOIN - BTC/USD - Daily