BITCOIN - BTC/USD - Daily - Technical analysis published on 06/17/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 8,397.92 USD
My targets
9,844.73 USD (+6.20%)
11,504.60 USD (+24.10%)
My analysis
The bullish trend is currently very strong on Bitcoin - BTC/USD. As long as the price remains above the support at 8,397.92 USD, you could try to benefit from the boom. The first bullish objective is located at 9,844.73 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 11,504.60 USD as an objective. Crossing it would then enable buyers to target 19,345.50 USD. 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.
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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The Bitcoin - BTC/USD price is 9,270.09 USD. The price registered an increase of +3.26% on the session with the lowest point at 8,972.71 USD and the highest point at 9,383.29 USD. The deviation from the price is +3.31% for the low point and -1.21% for the high point.8,972.71
9,383.29
9,270.09
The Central Gaps scanner detects a bullish 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:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
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
Technical analysis of this Daily chart of Bitcoin - BTC/USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : Daily
In fact, 15 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
Ichimoku - Bullish crossover : Tenkan & Kijun
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
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 | 5,875.21 | 7,644.80 | 8,397.92 | 9,270.09 | 9,844.73 | 11,504.60 | 19,345.50 |
| Change (%) | -36.62% | -17.53% | -9.41% | - | +6.20% | +24.10% | +108.69% |
| Change | -3,394.88 | -1,625.29 | -872.17 | - | +574.64 | +2,234.51 | +10,075.41 |
| Level | Intermediate | Intermediate | Major | - | Minor | Minor | 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 | 8,138.43 | 8,470.82 | 8,724.32 | 9,056.71 | 9,310.21 | 9,642.60 | 9,896.10 |
| Camarilla | 8,816.71 | 8,870.42 | 8,924.12 | 8,977.83 | 9,031.54 | 9,085.24 | 9,138.95 |
| Woodie | 8,099.00 | 8,451.10 | 8,684.89 | 9,036.99 | 9,270.77 | 9,622.88 | 9,856.66 |
| Fibonacci | 8,470.82 | 8,694.63 | 8,832.90 | 9,056.71 | 9,280.52 | 9,418.79 | 9,642.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,549.29 | 7,029.94 | 7,944.65 | 8,425.30 | 9,340.01 | 9,820.66 | 10,735.37 |
| Camarilla | 8,475.63 | 8,603.53 | 8,731.44 | 8,859.35 | 8,987.26 | 9,115.17 | 9,243.07 |
| Woodie | 6,766.31 | 7,138.46 | 8,161.67 | 8,533.81 | 9,557.03 | 9,929.17 | 10,952.39 |
| Fibonacci | 7,029.94 | 7,562.97 | 7,892.28 | 8,425.30 | 8,958.33 | 9,287.64 | 9,820.66 |
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): | 69.13 | |
| MACD (12,26,9): | 337.4700 | |
| Directional Movement: | 14.41 | |
| AROON (14): | 85.72 | |
| DEMA (21): | 8,756.83 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,540.94 | |
| Elder Ray (13): | 697.09 | |
| Super Trend (3,10): | 7,837.36 | |
| Zig ZAG (10): | 9,262.23 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 89.90 | |
| TEMA (21): | 8,705.10 | |
| Williams %R (14): | -6.29 | |
| Chande Momentum Oscillator (20): | 1,473.07 | |
| Repulse (5,40,3): | 7.0600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4600 | |
| Courbe Coppock: | 8.29 |
| MA7: | 8,598.14 | |
| MA20: | 8,292.68 | |
| MA50: | 7,533.56 | |
| MA100: | 6,078.87 | |
| MAexp7: | 8,724.06 | |
| MAexp20: | 8,316.75 | |
| MAexp50: | 7,554.18 | |
| MAexp100: | 6,575.56 | |
| Price / MA7: | +7.82% | |
| Price / MA20: | +11.79% | |
| Price / MA50: | +23.05% | |
| Price / MA100: | +52.50% | |
| Price / MAexp7: | +6.26% | |
| Price / MAexp20: | +11.46% | |
| Price / MAexp50: | +22.71% | |
| Price / MAexp100: | +40.98% |
This member declared not having a position on this financial instrument or a related financial instrument.
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