BITCOIN - BTC/USD - 1H - Technical analysis published on 08/31/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 9,629.79 USD
My targets
9,524.35 USD (-0.65%)
9,419.45 USD (-1.74%)
My analysis
In a bearish trend, the price of Bitcoin - BTC/USD tries to inflate a little with a slight short-term rebound. At this stage, no trend reversal is in sight. Globally, sellers have the upper hand. Traders may allow themselves to trade short positions (for sale) as long as the price remains below the resistance located at 9,629.79 USD. A bearish break in the support located at 9,524.35 USD would revive the bearish momentum and fuel the basic trend. Then the price could move towards 9,419.45 USD. Then 8,214.86 USD by extension. It would be safer to wait for a bearish break in the support located at 9,524.35 USD before allowing yourself to re trade short positions (for sale) on Bitcoin - BTC/USD. PS: if there is a bullish break in the resistance located at 9,629.79 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
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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 9,586.72 USD. The price registered an increase of +0.07% on the session and was traded between 9,566.83 USD and 9,651.73 USD over the period. The price is currently at +0.21% from its lowest and -0.67% from its highest.9,566.83
9,651.73
9,586.72
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:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of Bitcoin - BTC/USD indicates that the overall trend is bearish. 64.29% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this bearish trend may be slowing down. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal support is broken
Type : Bearish
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 | 8,214.86 | 9,419.45 | 9,524.35 | 9,586.72 | 9,629.79 | 10,024.30 | 10,277.00 |
| Change (%) | -14.31% | -1.74% | -0.65% | - | +0.45% | +4.56% | +7.20% |
| Change | -1,371.86 | -167.27 | -62.37 | - | +43.07 | +437.58 | +690.28 |
| Level | Minor | Major | Minor | - | Minor | Intermediate | 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 | 8,910.82 | 9,116.56 | 9,303.68 | 9,509.42 | 9,696.54 | 9,902.28 | 10,089.40 |
| Camarilla | 9,382.75 | 9,418.77 | 9,454.78 | 9,490.79 | 9,526.80 | 9,562.81 | 9,598.83 |
| Woodie | 8,901.50 | 9,111.91 | 9,294.36 | 9,504.77 | 9,687.22 | 9,897.63 | 10,080.08 |
| Fibonacci | 9,116.56 | 9,266.64 | 9,359.35 | 9,509.42 | 9,659.50 | 9,752.21 | 9,902.28 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,434.93 | 9,097.00 | 9,620.25 | 10,282.32 | 10,805.57 | 11,467.64 | 11,990.89 |
| Camarilla | 9,817.53 | 9,926.18 | 10,034.84 | 10,143.49 | 10,252.15 | 10,360.80 | 10,469.45 |
| Woodie | 8,365.51 | 9,062.30 | 9,550.83 | 10,247.62 | 10,736.15 | 11,432.94 | 11,921.47 |
| Fibonacci | 9,097.00 | 9,549.80 | 9,829.53 | 10,282.32 | 10,735.12 | 11,014.85 | 11,467.64 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,250.45 | 6,661.92 | 8,373.96 | 10,785.43 | 12,497.47 | 14,908.94 | 16,620.98 |
| Camarilla | 8,952.03 | 9,330.02 | 9,708.01 | 10,086.00 | 10,463.99 | 10,841.98 | 11,219.97 |
| Woodie | 3,900.73 | 6,487.06 | 8,024.25 | 10,610.57 | 12,147.76 | 14,734.08 | 16,271.27 |
| Fibonacci | 6,661.92 | 8,237.10 | 9,210.25 | 10,785.43 | 12,360.61 | 13,333.76 | 14,908.94 |
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): | 55.31 | |
| MACD (12,26,9): | 9.6800 | |
| Directional Movement: | 3.64 | |
| AROON (14): | 7.15 | |
| DEMA (21): | 9,560.47 | |
| Parabolic SAR (0,02-0,02-0,2): | 9,454.41 | |
| Elder Ray (13): | 42.03 | |
| Super Trend (3,10): | 9,649.05 | |
| Zig ZAG (10): | 9,590.36 | |
| VORTEX (21): | 1.1200 | |
| Stochastique (14,3,5): | 63.31 | |
| TEMA (21): | 9,606.93 | |
| Williams %R (14): | -45.31 | |
| Chande Momentum Oscillator (20): | 15.60 | |
| Repulse (5,40,3): | -0.0900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 1.70 |
| MA7: | 9,945.74 | |
| MA20: | 10,347.80 | |
| MA50: | 10,475.31 | |
| MA100: | 10,078.65 | |
| MAexp7: | 9,576.90 | |
| MAexp20: | 9,557.98 | |
| MAexp50: | 9,617.29 | |
| MAexp100: | 9,769.38 | |
| Price / MA7: | -3.61% | |
| Price / MA20: | -7.35% | |
| Price / MA50: | -8.48% | |
| Price / MA100: | -4.88% | |
| Price / MAexp7: | +0.10% | |
| Price / MAexp20: | +0.30% | |
| Price / MAexp50: | -0.32% | |
| Price / MAexp100: | -1.87% |
This member declared not having a position on this financial instrument or a related financial instrument.
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