BITCOIN - BTC/USD - Daily - Technical analysis published on 11/11/2019 (GMT)
- Who voted?
- 152
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
17%
44%
39%
My opinion
Bearish under 9,476.52 USD
My targets
8,220.01 USD (-5.35%)
7,432.72 USD (-14.42%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 9,476.52 USD remains possible. It is advisable to trade BITCOIN - BTC/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 9,476.52 USD. The next bearish objective for sellers is set at 8,220.01 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7,432.72 USD. In case of crossing, the next objective would be the support located at 5,875.21 USD. PS: if there is a bullish break in the resistance located at 9,476.52 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.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
FORCE
0
10
4.8
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 telwaygas. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 8,684.99 USD. On the day, this instrument lost -3.92% and was between 8,616.20 USD and 9,068.20 USD. This implies that the price is at +0.80% from its lowest and at -4.23% from its highest.8,616.20
9,068.20
8,684.99
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this Daily chart of BITCOIN - BTC/USD indicates that the overall trend is bearish. The signals given by moving averages are 78.57% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Daily
The probability of a further decline is low given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
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 | 5,875.21 | 7,432.72 | 8,220.01 | 8,684.99 | 9,476.52 | 10,594.50 | 11,988.10 |
| Change (%) | -32.35% | -14.42% | -5.35% | - | +9.11% | +21.99% | +38.03% |
| Change | -2,809.78 | -1,252.27 | -464.98 | - | +791.53 | +1,909.51 | +3,303.11 |
| Level | Major | Major | Major | - | Major | Minor | Minor |
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 | 8,471.87 | 8,612.43 | 8,825.87 | 8,966.43 | 9,179.87 | 9,320.43 | 9,533.87 |
| Camarilla | 8,941.95 | 8,974.40 | 9,006.85 | 9,039.30 | 9,071.75 | 9,104.20 | 9,136.65 |
| Woodie | 8,508.30 | 8,630.65 | 8,862.30 | 8,984.65 | 9,216.30 | 9,338.65 | 9,570.30 |
| Fibonacci | 8,612.43 | 8,747.66 | 8,831.21 | 8,966.43 | 9,101.66 | 9,185.21 | 9,320.43 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,537.10 | 8,106.10 | 8,459.05 | 9,028.05 | 9,381.00 | 9,950.00 | 10,302.95 |
| Camarilla | 8,558.46 | 8,642.98 | 8,727.49 | 8,812.00 | 8,896.51 | 8,981.02 | 9,065.54 |
| Woodie | 7,429.08 | 8,052.09 | 8,351.03 | 8,974.04 | 9,272.98 | 9,895.99 | 10,194.93 |
| Fibonacci | 8,106.10 | 8,458.28 | 8,675.87 | 9,028.05 | 9,380.24 | 9,597.82 | 9,950.00 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,216.82 | 5,757.51 | 7,454.83 | 8,995.52 | 10,692.84 | 12,233.53 | 13,930.86 |
| Camarilla | 8,261.71 | 8,558.53 | 8,855.34 | 9,152.16 | 9,448.98 | 9,745.80 | 10,042.61 |
| Woodie | 4,295.15 | 5,796.67 | 7,533.16 | 9,034.68 | 10,771.17 | 12,272.69 | 14,009.18 |
| Fibonacci | 5,757.51 | 6,994.43 | 7,758.60 | 8,995.52 | 10,232.44 | 10,996.61 | 12,233.53 |
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): | 46.54 | |
| MACD (12,26,9): | 94.5300 | |
| Directional Movement: | 4.30 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 9,075.26 | |
| Parabolic SAR (0,02-0,02-0,2): | 10,536.20 | |
| Elder Ray (13): | -146.30 | |
| Super Trend (3,10): | 8,032.56 | |
| Zig ZAG (10): | 8,700.00 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 15.58 | |
| TEMA (21): | 9,171.41 | |
| Williams %R (14): | -93.02 | |
| Chande Momentum Oscillator (20): | -478.50 | |
| Repulse (5,40,3): | -4.7800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.3000 | |
| Courbe Coppock: | 5.18 |
| MA7: | 9,023.42 | |
| MA20: | 8,985.24 | |
| MA50: | 8,554.60 | |
| MA100: | 9,517.99 | |
| MAexp7: | 8,957.96 | |
| MAexp20: | 8,934.96 | |
| MAexp50: | 8,941.05 | |
| MAexp100: | 9,099.75 | |
| Price / MA7: | -3.75% | |
| Price / MA20: | -3.34% | |
| Price / MA50: | +1.52% | |
| Price / MA100: | -8.75% | |
| Price / MAexp7: | -3.05% | |
| Price / MAexp20: | -2.80% | |
| Price / MAexp50: | -2.86% | |
| Price / MAexp100: | -4.56% |
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis BITCOIN - BTC/USD - Daily