BITCOIN - BTC/USD - Daily - Technical analysis published on 01/02/2020 (GMT)
- Who voted?
- 206
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 7,432.72 USD
My targets
6,615.23 USD (-7.02%)
5,875.21 USD (-17.42%)
My analysis
The bearish trend is currently very strong for BITCOIN - BTC/USD. As long as the price remains below the resistance at 7,432.72 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 6,615.23 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
6.8
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
The BITCOIN - BTC/USD rating is 7,114.94 USD. On the day, this instrument lost -0.83% and was between 7,089.26 USD and 7,190.37 USD. This implies that the price is at +0.36% from its lowest and at -1.05% from its highest.7,089.26
7,190.37
7,114.94
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:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of BITCOIN - BTC/USD in Daily shows a overall strongly bearish trend. 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal support
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,182.14 | 5,875.21 | 6,615.23 | 7,114.94 | 7,432.72 | 9,516.95 | 10,627.40 |
| Change (%) | -55.28% | -17.42% | -7.02% | - | +4.47% | +33.76% | +49.37% |
| Change | -3,932.80 | -1,239.73 | -499.71 | - | +317.78 | +2,402.01 | +3,512.46 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Intermediate | 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 | 7,040.23 | 7,091.47 | 7,132.88 | 7,184.12 | 7,225.53 | 7,276.77 | 7,318.18 |
| Camarilla | 7,148.80 | 7,157.29 | 7,165.79 | 7,174.28 | 7,182.77 | 7,191.27 | 7,199.76 |
| Woodie | 7,035.31 | 7,089.01 | 7,127.96 | 7,181.66 | 7,220.61 | 7,274.31 | 7,313.26 |
| Fibonacci | 7,091.47 | 7,126.87 | 7,148.73 | 7,184.12 | 7,219.52 | 7,241.38 | 7,276.77 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,389.71 | 6,726.41 | 7,014.06 | 7,350.76 | 7,638.41 | 7,975.11 | 8,262.76 |
| Camarilla | 7,130.01 | 7,187.25 | 7,244.48 | 7,301.71 | 7,358.94 | 7,416.17 | 7,473.41 |
| Woodie | 6,365.19 | 6,714.15 | 6,989.54 | 7,338.50 | 7,613.89 | 7,962.85 | 8,238.24 |
| Fibonacci | 6,726.41 | 6,964.91 | 7,112.26 | 7,350.76 | 7,589.26 | 7,736.61 | 7,975.11 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,126.10 | 5,779.24 | 6,473.51 | 7,126.65 | 7,820.92 | 8,474.06 | 9,168.33 |
| Camarilla | 6,797.23 | 6,920.75 | 7,044.26 | 7,167.77 | 7,291.28 | 7,414.80 | 7,538.31 |
| Woodie | 5,146.66 | 5,789.52 | 6,494.07 | 7,136.93 | 7,841.48 | 8,484.34 | 9,188.88 |
| Fibonacci | 5,779.24 | 6,293.95 | 6,611.94 | 7,126.65 | 7,641.36 | 7,959.35 | 8,474.06 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 44.32 | |
| MACD (12,26,9): | -65.8900 | |
| Directional Movement: | 2.77 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 7,130.27 | |
| Parabolic SAR (0,02-0,02-0,2): | 6,867.53 | |
| Elder Ray (13): | -73.82 | |
| Super Trend (3,10): | 7,594.71 | |
| Zig ZAG (10): | 7,114.54 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 29.01 | |
| TEMA (21): | 7,225.07 | |
| Williams %R (14): | -91.70 | |
| Chande Momentum Oscillator (20): | -31.33 | |
| Repulse (5,40,3): | -2.3500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1500 | |
| Courbe Coppock: | 3.03 |
| MA7: | 7,230.50 | |
| MA20: | 7,176.24 | |
| MA50: | 7,421.20 | |
| MA100: | 7,981.39 | |
| MAexp7: | 7,198.27 | |
| MAexp20: | 7,238.48 | |
| MAexp50: | 7,518.23 | |
| MAexp100: | 7,996.68 | |
| Price / MA7: | -1.60% | |
| Price / MA20: | -0.85% | |
| Price / MA50: | -4.13% | |
| Price / MA100: | -10.86% | |
| Price / MAexp7: | -1.16% | |
| Price / MAexp20: | -1.71% | |
| Price / MAexp50: | -5.36% | |
| Price / MAexp100: | -11.03% |
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