BITCOIN - BTC/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCUSD
ISIN:

BITCOIN - BTC/USD - Daily - Technical analysis published on 05/22/2024 (GMT)

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Londinia

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

89%

11%

My opinion

Bullish above 67,554.70 USD

My targets

77,789.12 USD (+10.80%)

82,842.63 USD (+18.00%)

My analysis

The bullish trend is currently very strong on BITCOIN - BTC/USD. As long as the price remains above the support at 67,554.70 USD, you could try to benefit from the boom. The first bullish objective is located at 77,789.12 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 82,842.63 USD as an objective. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.6

Comment on the analysis

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 Muhahaha. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BITCOIN - BTC/USD rating 70,204.64 USD. The price has increased by +0.09% since the last closing and was traded between 69,218.41 USD and 70,354.75 USD over the period. The price is currently at +1.42% from its lowest and -0.21% from its highest.

69,218.41

70,354.75

70,204.64

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:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this BITCOIN - BTC/USD chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 16 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Doji

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	50,742.68	63,999.86	67,554.70	70,204.64	71,567.03
Change (%)	-27.72%	-8.84%	-3.77%	-	+1.94%
Change	-19,461.96	-6,204.78	-2,649.94	-	+1,362.39
Level	Minor	Major	Major	-	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	66,122.41	67,646.30	68,895.69	70,419.58	71,668.97	73,192.86	74,442.25
Camarilla	69,382.44	69,636.66	69,890.87	70,145.09	70,399.31	70,653.53	70,907.74
Woodie	65,985.17	67,577.68	68,758.45	70,350.96	71,531.73	73,124.24	74,305.01
Fibonacci	67,646.30	68,705.69	69,360.18	70,419.58	71,478.97	72,133.46	73,192.86

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	55,665.70	58,140.49	62,534.02	65,008.81	69,402.34	71,877.13	76,270.66
Camarilla	65,038.75	65,668.35	66,297.94	66,927.54	67,557.14	68,186.73	68,816.33
Woodie	56,625.06	58,620.18	63,493.38	65,488.50	70,361.70	72,356.82	77,230.02
Fibonacci	58,140.49	60,764.19	62,385.12	65,008.81	67,632.51	69,253.44	71,877.13

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	41,941.71	50,521.84	55,575.35	64,155.48	69,208.99	77,789.12	82,842.63
Camarilla	56,879.61	58,129.36	59,379.11	60,628.86	61,878.61	63,128.36	64,378.11
Woodie	40,178.40	49,640.19	53,812.04	63,273.83	67,445.68	76,907.47	81,079.32
Fibonacci	50,521.84	55,729.89	58,947.43	64,155.48	69,363.53	72,581.07	77,789.12

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):	62.43
MACD (12,26,9):	1,521.2600
Directional Movement:	15.26
AROON (14):	78.57
DEMA (21):	67,198.42
Parabolic SAR (0,02-0,02-0,2):	66,027.72
Elder Ray (13):	3,105.41
Super Trend (3,10):	62,428.17
Zig ZAG (10):	70,236.37
VORTEX (21):	1.2400
Stochastique (14,3,5):	89.84
TEMA (21):	69,013.69
Williams %R (14):	-14.49
Chande Momentum Oscillator (20):	9,452.88
Repulse (5,40,3):	4.0500
ROCnROLL:	1
TRIX (15,9):	0.1000
Courbe Coppock:	19.79

MA7:	68,178.32
MA20:	64,581.62
MA50:	65,012.18
MA100:	63,902.74
MAexp7:	68,318.02
MAexp20:	65,739.67
MAexp50:	64,612.84
MAexp100:	61,441.98
Price / MA7:	+2.97%
Price / MA20:	+8.71%
Price / MA50:	+7.99%
Price / MA100:	+9.86%
Price / MAexp7:	+2.76%
Price / MAexp20:	+6.79%
Price / MAexp50:	+8.65%
Price / MAexp100:	+14.26%

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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