BITCOIN - BTC/USD - 1H - Technical analysis published on 08/12/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Strongly bearish
Technical indicators
44%
33%
22%
My opinion
Bearish under 11,504.60 USD
My targets
11,200.80 USD (-1.25%)
10,920.60 USD (-3.72%)
My analysis
The basic trend is very bearish on Bitcoin - BTC/USD but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on Bitcoin - BTC/USD. As long as you stay below the resistance 11,504.60 USD, sellers” retain the upper hand. A break in the support at 11,200.80 USD would be a signal that the basic trend will reverse. Sellers would then use the next support located at 10,920.60 USD as an objective. Crossing it would then enable sellers to target 10,568.90 USD. If the price were to depress the resistance 11,504.60 USD in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a 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
Bitcoin - BTC/USD rating 11,342.34 USD. The price registered a decrease of -1.70% on the session and was between 11,313.54 USD and 11,549.29 USD. This implies that the price is at +0.25% from its lowest and at -1.79% from its highest.11,313.54
11,549.29
11,342.34
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by Bitcoin - BTC/USD:
Technical
Technical analysis of Bitcoin - BTC/USD in 1H shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: this global trend is showing signs of running out of steam given the neutral signals of short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 8 are bullish, 4 are neutral and 6 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 10,568.90 | 10,920.60 | 11,200.80 | 11,342.34 | 11,504.60 | 12,056.20 | 12,330.20 |
| Change (%) | -6.82% | -3.72% | -1.25% | - | +1.43% | +6.29% | +8.71% |
| Change | -773.44 | -421.74 | -141.54 | - | +162.26 | +713.86 | +987.86 |
| Level | Intermediate | Minor | Minor | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,765.59 | 3,925.70 | 4,085.85 | 4,245.96 | 4,406.11 | 4,566.22 | 4,726.37 |
| Camarilla | 4,157.94 | 4,187.30 | 4,216.65 | 4,246.01 | 4,275.37 | 4,304.72 | 4,334.08 |
| Woodie | 3,765.62 | 3,925.71 | 4,085.88 | 4,245.97 | 4,406.14 | 4,566.23 | 4,726.40 |
| Fibonacci | 3,925.70 | 4,048.04 | 4,123.62 | 4,245.96 | 4,368.30 | 4,443.88 | 4,566.22 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 329.53 | 362.03 | 380.52 | 413.02 | 431.51 | 464.01 | 482.50 |
| Camarilla | 385.00 | 389.67 | 394.35 | 399.02 | 403.69 | 408.37 | 413.04 |
| Woodie | 322.54 | 358.53 | 373.53 | 409.52 | 424.52 | 460.51 | 475.51 |
| Fibonacci | 362.03 | 381.51 | 393.54 | 413.02 | 432.50 | 444.53 | 464.01 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,627.19 | 6,356.49 | 8,947.45 | 6,676.75 | 9,267.71 | 6,997.01 | 9,587.97 |
| Camarilla | 11,450.33 | 11,479.69 | 11,509.04 | 11,538.40 | 11,567.76 | 11,597.12 | 11,626.47 |
| Woodie | 11,058.01 | 7,571.91 | 11,378.27 | 7,892.17 | 11,698.53 | 8,212.43 | 12,018.79 |
| Fibonacci | 6,356.49 | 6,478.83 | 6,554.41 | 6,676.75 | 6,799.09 | 6,874.67 | 6,997.01 |
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): | 50.62 | |
| MACD (12,26,9): | -59.2400 | |
| Directional Movement: | 0.12 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 11,238.23 | |
| Parabolic SAR (0,02-0,02-0,2): | 11,488.61 | |
| Elder Ray (13): | 103.58 | |
| Super Trend (3,10): | 10,554.34 | |
| Zig ZAG (10): | 11,347.64 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 86.57 | |
| TEMA (21): | 11,211.29 | |
| Williams %R (14): | -13.37 | |
| Chande Momentum Oscillator (20): | -128.24 | |
| Repulse (5,40,3): | 0.1600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 3.70 |
| MA7: | 10,608.27 | |
| MA20: | 10,406.67 | |
| MA50: | 10,826.35 | |
| MA100: | 9,504.19 | |
| MAexp7: | 11,197.29 | |
| MAexp20: | 11,308.66 | |
| MAexp50: | 11,406.54 | |
| MAexp100: | 11,486.60 | |
| Price / MA7: | +6.92% | |
| Price / MA20: | +8.99% | |
| Price / MA50: | +4.77% | |
| Price / MA100: | +19.34% | |
| Price / MAexp7: | +1.30% | |
| Price / MAexp20: | +0.30% | |
| Price / MAexp50: | -0.56% | |
| Price / MAexp100: | -1.26% |
This member declared not having a position on this financial instrument or a related financial instrument.
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