BITCOIN - BTC/USD - 1H - Technical analysis published on 07/02/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
78%
0%
22%
My opinion
Bullish above 10,604.50 USD
My targets
11,107.00 USD (+3.62%)
11,504.60 USD (+7.33%)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for Bitcoin - BTC/USD as long as the price remains well above 10,604.50 USD. The buyers” bullish objective is set at 11,107.00 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 11,504.60 USD. If there is any crossing, the next objective would be the resistance located at 12,445.90 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 11,107.00 USD. On this resistance, against the trend traders who would like to go short on Bitcoin - BTC/USD with a bearish signal from their trading strategy, should not hesitate to act.
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 10,719.25 USD. On the day, this instrument gained +1.49% with the lowest point at 9,614.44 USD and the highest point at 10,754.86 USD. The deviation from the price is +11.49% for the low point and -0.33% for the high point.9,614.44
10,754.86
10,719.25
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of Bitcoin - BTC/USD indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
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 | 9,844.73 | 10,300.70 | 10,604.50 | 10,719.25 | 11,107.00 | 11,504.60 | 12,445.90 |
Change (%) | -8.16% | -3.90% | -1.07% | - | +3.62% | +7.33% | +16.11% |
Change | -874.52 | -418.55 | -114.75 | - | +387.75 | +785.35 | +1,726.65 |
Level | Intermediate | Major | Minor | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
RSI (14): | 59.40 | |
MACD (12,26,9): | -29.2800 | |
Directional Movement: | -1.16 | |
AROON (14): | 42.86 | |
DEMA (21): | 10,202.67 | |
Parabolic SAR (0,02-0,02-0,2): | 9,711.76 | |
Elder Ray (13): | 284.38 | |
Super Trend (3,10): | 9,735.33 | |
Zig ZAG (10): | 10,654.82 | |
VORTEX (21): | 1.0100 | |
Stochastique (14,3,5): | 94.53 | |
TEMA (21): | 10,390.64 | |
Williams %R (14): | -2.86 | |
Chande Momentum Oscillator (20): | 897.43 | |
Repulse (5,40,3): | 3.6200 | |
ROCnROLL: | 1 | |
TRIX (15,9): | -0.1900 | |
Courbe Coppock: | 2.99 |
MA7: | 11,477.05 | |
MA20: | 10,343.32 | |
MA50: | 8,986.83 | |
MA100: | 7,116.04 | |
MAexp7: | 10,414.61 | |
MAexp20: | 10,347.22 | |
MAexp50: | 10,578.83 | |
MAexp100: | 10,928.60 | |
Price / MA7: | -6.60% | |
Price / MA20: | +3.63% | |
Price / MA50: | +19.28% | |
Price / MA100: | +50.64% | |
Price / MAexp7: | +2.93% | |
Price / MAexp20: | +3.60% | |
Price / MAexp50: | +1.33% | |
Price / MAexp100: | -1.92% |
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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