BITCOIN - BTC/USD - 1H - Technical analysis published on 11/29/2019 (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:
Bullish
Technical indicators
6%
50%
44%
My opinion
Bullish above 7,420.15 USD
My targets
7,696.58 USD (+3.46%)
8,032.27 USD (+7.97%)
My analysis
Has the basic bullish 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 bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 7,420.15 USD remains possible. It is advisable to trade BITCOIN - BTC/USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 7,420.15 USD. The next bullish objective for buyers is set at 7,696.58 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8,032.27 USD. If there is any crossing, the next objective would be the resistance located at 8,220.16 USD. PS: if there is a bearish break in the support located at 7,420.15 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
FORCE
0
10
1.1
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Additional analysis
Quotes
The BITCOIN - BTC/USD price is 7,439.27 USD. The price registered an increase of +0.16% on the session and was between 7,407.51 USD and 7,439.27 USD. This implies that the price is at +0.43% from its lowest and at 0% from its highest.7,407.51
7,439.27
7,439.27
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
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 support is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6,856.55 | 7,182.11 | 7,420.15 | 7,439.27 | 7,696.58 | 8,032.27 | 8,220.16 |
| Change (%) | -7.83% | -3.46% | -0.26% | - | +3.46% | +7.97% | +10.50% |
| Change | -582.72 | -257.16 | -19.12 | - | +257.31 | +593.00 | +780.89 |
| Level | Minor | Minor | Major | - | Minor | Minor | Intermediate |
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 | 6,220.42 | 6,538.49 | 7,032.19 | 7,350.26 | 7,843.96 | 8,162.03 | 8,655.73 |
| Camarilla | 7,302.66 | 7,377.08 | 7,451.49 | 7,525.90 | 7,600.31 | 7,674.72 | 7,749.14 |
| Woodie | 6,308.25 | 6,582.40 | 7,120.02 | 7,394.17 | 7,931.79 | 8,205.94 | 8,743.56 |
| Fibonacci | 7,211.28 | 7,315.86 | 7,380.47 | 7,350.26 | 7,660.35 | 7,851.93 | 8,162.03 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,699.51 | 5,744.78 | 6,535.15 | 7,580.42 | 8,370.79 | 9,416.06 | 10,206.43 |
| Camarilla | 6,820.72 | 6,988.99 | 7,157.25 | 7,325.52 | 7,493.79 | 7,662.05 | 7,830.32 |
| Woodie | 4,572.06 | 5,681.05 | 6,407.70 | 7,516.70 | 8,243.34 | 9,352.34 | 10,078.98 |
| Fibonacci | 5,744.78 | 6,445.99 | 6,879.21 | 7,580.42 | 8,281.64 | 8,714.85 | 9,416.06 |
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): | 45.53 | |
| MACD (12,26,9): | 25.3200 | |
| Directional Movement: | -6.26 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 7,556.08 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,645.42 | |
| Elder Ray (13): | -100.56 | |
| Super Trend (3,10): | 7,657.52 | |
| Zig ZAG (10): | 7,427.21 | |
| VORTEX (21): | 0.9200 | |
| Stochastique (14,3,5): | 18.35 | |
| TEMA (21): | 7,474.79 | |
| Williams %R (14): | -82.20 | |
| Chande Momentum Oscillator (20): | -44.92 | |
| Repulse (5,40,3): | -1.0400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 0.19 |
| MA7: | 7,273.10 | |
| MA20: | 8,049.16 | |
| MA50: | 8,411.43 | |
| MA100: | 8,982.37 | |
| MAexp7: | 7,474.17 | |
| MAexp20: | 7,511.36 | |
| MAexp50: | 7,418.62 | |
| MAexp100: | 7,347.84 | |
| Price / MA7: | +2.28% | |
| Price / MA20: | -7.58% | |
| Price / MA50: | -11.56% | |
| Price / MA100: | -17.18% | |
| Price / MAexp7: | -0.47% | |
| Price / MAexp20: | -0.96% | |
| Price / MAexp50: | +0.28% | |
| Price / MAexp100: | +1.24% |
This member declared not having a position on this financial instrument or a related financial instrument.
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