BITCOIN - BTC/USD - 1H - Technical analysis published on 07/02/2019 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 9,844.73 USD
My targets
8,768.39 USD (-10.25%)
7,645.84 USD (-21.74%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on Bitcoin - BTC/USD as long as the price remains well below 9,844.73 USD. The sellers” bearish objective is set at 8,768.39 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7,645.84 USD. In case of crossing, the next objective would be the support located at 5,875.21 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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 rating is 9,769.64 USD. The price registered a decrease of -7.50% on the session and was between 9,714.25 USD and 10,655.51 USD. This implies that the price is at +0.57% from its lowest and at -8.31% from its highest.9,714.25
10,655.51
9,769.64
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
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 horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 | 7,645.84 | 8,768.39 | 9,769.64 | 9,844.73 | 10,300.70 | 10,604.50 |
| Change (%) | -39.86% | -21.74% | -10.25% | - | +0.77% | +5.44% | +8.55% |
| Change | -3,894.43 | -2,123.80 | -1,001.25 | - | +75.09 | +531.06 | +834.86 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Major | Minor |
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 | 8,690.34 | 9,324.80 | 9,943.13 | 10,577.59 | 11,195.92 | 11,830.38 | 12,448.71 |
| Camarilla | 10,216.95 | 10,331.79 | 10,446.63 | 10,561.47 | 10,676.31 | 10,791.15 | 10,905.99 |
| Woodie | 8,682.29 | 9,320.77 | 9,935.07 | 10,573.56 | 11,187.86 | 11,826.35 | 12,440.65 |
| Fibonacci | 9,324.80 | 9,803.36 | 10,099.02 | 10,577.59 | 11,056.15 | 11,351.81 | 11,830.38 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,599.01 | 8,449.86 | 10,158.91 | 12,009.76 | 13,718.81 | 15,569.66 | 17,278.71 |
| Camarilla | 10,889.00 | 11,215.32 | 11,541.65 | 11,867.97 | 12,194.29 | 12,520.62 | 12,846.94 |
| Woodie | 6,528.12 | 8,414.41 | 10,088.02 | 11,974.31 | 13,647.92 | 15,534.21 | 17,207.82 |
| Fibonacci | 8,449.86 | 9,809.74 | 10,649.88 | 12,009.76 | 13,369.64 | 14,209.77 | 15,569.66 |
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): | 31.69 | |
| MACD (12,26,9): | -252.5000 | |
| Directional Movement: | -29.72 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 9,992.60 | |
| Parabolic SAR (0,02-0,02-0,2): | 10,601.93 | |
| Elder Ray (13): | -393.68 | |
| Super Trend (3,10): | 10,501.23 | |
| Zig ZAG (10): | 9,819.51 | |
| VORTEX (21): | 0.7900 | |
| Stochastique (14,3,5): | 8.81 | |
| TEMA (21): | 9,942.40 | |
| Williams %R (14): | -89.99 | |
| Chande Momentum Oscillator (20): | -387.09 | |
| Repulse (5,40,3): | -3.2900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3000 | |
| Courbe Coppock: | 5.89 |
| MA7: | 11,347.55 | |
| MA20: | 10,299.84 | |
| MA50: | 8,969.48 | |
| MA100: | 7,107.13 | |
| MAexp7: | 10,042.06 | |
| MAexp20: | 10,325.85 | |
| MAexp50: | 10,752.15 | |
| MAexp100: | 11,098.77 | |
| Price / MA7: | -13.91% | |
| Price / MA20: | -5.15% | |
| Price / MA50: | +8.92% | |
| Price / MA100: | +37.46% | |
| Price / MAexp7: | -2.71% | |
| Price / MAexp20: | -5.39% | |
| Price / MAexp50: | -9.14% | |
| Price / MAexp100: | -11.98% |
This member declared not having a position on this financial instrument or a related financial instrument.
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