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 05/23/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

17%

My opinion

Bullish above 67,554.70 USD

My targets

71,567.03 USD (+2.83%)

My analysis

BITCOIN - BTC/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 67,554.70 USD. The next resistance located at 71,567.03 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

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

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

The BITCOIN - BTC/USD rating is 69,599.55 USD. The price has increased by +0.69% since the last closing and was between 69,135.51 USD and 69,834.87 USD. This implies that the price is at +0.67% from its lowest and at -0.34% from its highest.

69,135.51

69,834.87

69,599.55

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

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 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of BITCOIN - BTC/USD in Daily shows a strongly overall 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators shows a strong bullish signal.
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 scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Near resistance of triangle

Type : Bearish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

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 : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	50,742.68	63,999.86	67,554.70	69,599.55	71,567.03
Change (%)	-27.09%	-8.05%	-2.94%	-	+2.83%
Change	-18,856.87	-5,599.69	-2,044.85	-	+1,967.48
Level	Minor	Major	Major	-	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	66,816.08	67,877.94	68,500.73	69,562.59	70,185.38	71,247.24	71,870.03
Camarilla	68,660.25	68,814.68	68,969.10	69,123.53	69,277.96	69,432.38	69,586.81
Woodie	66,596.56	67,768.17	68,281.21	69,452.82	69,965.86	71,137.47	71,650.51
Fibonacci	67,877.94	68,521.47	68,919.05	69,562.59	70,206.12	70,603.70	71,247.24

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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	60.69
MACD (12,26,9):	1,573.5000
Directional Movement:	14.12
AROON (14):	78.57
DEMA (21):	67,616.37
Parabolic SAR (0,02-0,02-0,2):	67,092.55
Elder Ray (13):	2,493.77
Super Trend (3,10):	62,428.17
Zig ZAG (10):	69,746.34
VORTEX (21):	1.2400
Stochastique (14,3,5):	80.63
TEMA (21):	69,366.51
Williams %R (14):	-18.83
Chande Momentum Oscillator (20):	8,914.49
Repulse (5,40,3):	1.6000
ROCnROLL:	1
TRIX (15,9):	0.1400
Courbe Coppock:	20.72

MA7:	68,650.52
MA20:	64,868.22
MA50:	65,066.43
MA100:	64,092.78
MAexp7:	68,440.91
MAexp20:	66,034.47
MAexp50:	64,775.06
MAexp100:	61,585.97
Price / MA7:	+1.38%
Price / MA20:	+7.29%
Price / MA50:	+6.97%
Price / MA100:	+8.59%
Price / MAexp7:	+1.69%
Price / MAexp20:	+5.40%
Price / MAexp50:	+7.45%
Price / MAexp100:	+13.01%

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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