BITCOIN - BTC/USD - 1H - Technical analysis published on 05/18/2022 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 29,794.70 USD
My targets
28,093.40 USD (-2.95%)
25,857.40 USD (-10.67%)
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 29,794.70 USD. The next support located at 28,093.40 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 25,857.40 USD. Below this support, sellers could then target 19,345.50 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, 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
7.1
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This analysis was given by Addareea. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 28,946.64 USD. The price registered a decrease of -4.83% on the session and was between 28,708.96 USD and 30,661.33 USD. This implies that the price is at +0.83% from its lowest and at -5.59% from its highest.28,708.96
30,661.33
28,946.64
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
A technical analysis in 1H of this BITCOIN - BTC/USD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, only 9 technical indicators out of 18 studied are currently bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 19,345.50 | 25,857.40 | 28,093.40 | 28,946.64 | 29,070.50 | 29,794.70 | 30,959.90 |
| Change (%) | -33.17% | -10.67% | -2.95% | - | +0.43% | +2.93% | +6.96% |
| Change | -9,601.14 | -3,089.24 | -853.24 | - | +123.86 | +848.06 | +2,013.26 |
| Level | Major | Intermediate | Minor | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 28,337.56 | 28,880.54 | 29,647.84 | 30,190.82 | 30,958.12 | 31,501.10 | 32,268.40 |
| Camarilla | 30,054.81 | 30,174.92 | 30,295.03 | 30,415.14 | 30,535.25 | 30,655.36 | 30,775.47 |
| Woodie | 28,449.72 | 28,936.62 | 29,760.00 | 30,246.90 | 31,070.28 | 31,557.18 | 32,380.56 |
| Fibonacci | 28,880.54 | 29,381.07 | 29,690.29 | 30,190.82 | 30,691.35 | 31,000.57 | 31,501.10 |
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 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): | 38.14 | |
| MACD (12,26,9): | -258.8500 | |
| Directional Movement: | -13.24 | |
| AROON (14): | -42.85 | |
| DEMA (21): | 29,113.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 28,708.96 | |
| Elder Ray (13): | -108.26 | |
| Super Trend (3,10): | 29,923.48 | |
| Zig ZAG (10): | 29,047.14 | |
| VORTEX (21): | 0.8300 | |
| Stochastique (14,3,5): | 32.70 | |
| TEMA (21): | 28,963.78 | |
| Williams %R (14): | -75.38 | |
| Chande Momentum Oscillator (20): | -896.14 | |
| Repulse (5,40,3): | -1.1300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 5.13 |
| MA7: | 29,816.81 | |
| MA20: | 33,584.54 | |
| MA50: | 38,610.70 | |
| MA100: | 39,977.44 | |
| MAexp7: | 29,142.47 | |
| MAexp20: | 29,445.37 | |
| MAexp50: | 29,747.32 | |
| MAexp100: | 29,922.59 | |
| Price / MA7: | -2.92% | |
| Price / MA20: | -13.81% | |
| Price / MA50: | -25.03% | |
| Price / MA100: | -27.59% | |
| Price / MAexp7: | -0.67% | |
| Price / MAexp20: | -1.69% | |
| Price / MAexp50: | -2.69% | |
| Price / MAexp100: | -3.26% |
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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