BITCOIN - BTC/USD - Daily - Technical analysis published on 11/29/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
28%
56%
17%
My opinion
Bearish under 9,501.50 USD
My targets
7,420.15 USD (-0.51%)
5,875.21 USD (-21.23%)
My analysis
The bearish trend is currently very strong for BITCOIN - BTC/USD. As long as the price remains below the resistance at 9,501.50 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 7,420.15 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 5,875.21 USD as an objective. Crossing it would then enable sellers to target 3,182.14 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
FORCE
0
10
7
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Additional analysis
Quotes
BITCOIN - BTC/USD rating 7,458.22 USD. The price has increased by +0.42% since the last closing and was between 7,407.51 USD and 7,458.22 USD. This implies that the price is at +0.68% from its lowest and at 0% from its highest.7,407.51
7,458.22
7,458.22
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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 Daily chart of BITCOIN - BTC/USD indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
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 market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
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 | 3,182.14 | 5,875.21 | 7,420.15 | 7,458.22 | 9,501.50 | 10,627.40 | 11,988.10 |
Change (%) | -57.33% | -21.23% | -0.51% | - | +27.40% | +42.49% | +60.74% |
Change | -4,276.08 | -1,583.01 | -38.07 | - | +2,043.28 | +3,169.18 | +4,529.88 |
Level | Major | Intermediate | Major | - | Intermediate | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
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): | 37.75 | |
MACD (12,26,9): | -412.1100 | |
Directional Movement: | -17.87 | |
AROON (14): | -78.57 | |
DEMA (21): | 7,395.57 | |
Parabolic SAR (0,02-0,02-0,2): | 7,668.32 | |
Elder Ray (13): | -140.77 | |
Super Trend (3,10): | 8,271.11 | |
Zig ZAG (10): | 7,427.21 | |
VORTEX (21): | 0.8400 | |
Stochastique (14,3,5): | 42.47 | |
TEMA (21): | 7,109.07 | |
Williams %R (14): | -57.15 | |
Chande Momentum Oscillator (20): | -1,083.46 | |
Repulse (5,40,3): | 1.2900 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.5800 | |
Courbe Coppock: | 30.08 |
MA7: | 7,273.10 | |
MA20: | 8,049.16 | |
MA50: | 8,411.43 | |
MA100: | 8,982.37 | |
MAexp7: | 7,424.56 | |
MAexp20: | 7,888.48 | |
MAexp50: | 8,377.74 | |
MAexp100: | 8,741.40 | |
Price / MA7: | +2.55% | |
Price / MA20: | -7.34% | |
Price / MA50: | -11.33% | |
Price / MA100: | -16.97% | |
Price / MAexp7: | +0.45% | |
Price / MAexp20: | -5.45% | |
Price / MAexp50: | -10.98% | |
Price / MAexp100: | -14.68% |
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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