BITCOIN - BTC/USD - 1H - Technical analysis published on 01/06/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 7,423.21 USD
My targets
7,913.08 USD (+5.24%)
8,298.72 USD (+10.37%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BITCOIN - BTC/USD as long as the price remains well above 7,423.21 USD. The buyers” bullish objective is set at 7,913.08 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8,298.72 USD. If there is any crossing, the next objective would be the resistance located at 9,516.95 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
8.6
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.
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Additional analysis
Quotes
The BITCOIN - BTC/USD price is 7,518.89 USD. On the day, this instrument gained +2.33% with the lowest point at 7,340.99 USD and the highest point at 7,579.79 USD. The deviation from the price is +2.42% for the low point and -0.80% for the high point.7,340.99
7,579.79
7,518.89
The Central Gaps scanner detects a bearish opening. A small advantage for sellers 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 BITCOIN - BTC/USD in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
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 over resistance 1
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bullish signals that could support the hypothesis of a small rebound in the very short term:
White line without lower shadow
Type : Bullish
Timeframe : 1 hour
Long white line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7,234.49 | 7,346.08 | 7,423.21 | 7,518.89 | 7,527.43 | 9,516.95 | 10,627.40 |
| Change (%) | -3.78% | -2.30% | -1.27% | - | +0.11% | +26.57% | +41.34% |
| Change | -284.40 | -172.81 | -95.68 | - | +8.54 | +1,998.06 | +3,108.51 |
| Level | Intermediate | Minor | Minor | - | Intermediate | 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 | 7,095.15 | 7,202.95 | 7,275.30 | 7,383.10 | 7,455.45 | 7,563.25 | 7,635.60 |
| Camarilla | 7,298.11 | 7,314.62 | 7,331.14 | 7,347.65 | 7,364.16 | 7,380.68 | 7,397.19 |
| Woodie | 7,077.43 | 7,194.09 | 7,257.58 | 7,374.24 | 7,437.73 | 7,554.39 | 7,617.88 |
| Fibonacci | 7,202.95 | 7,271.77 | 7,314.28 | 7,383.10 | 7,451.92 | 7,494.43 | 7,563.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,298.14 | 6,579.36 | 6,965.00 | 7,246.22 | 7,631.86 | 7,913.08 | 8,298.72 |
| Camarilla | 7,167.26 | 7,228.39 | 7,289.52 | 7,350.65 | 7,411.78 | 7,472.91 | 7,534.04 |
| Woodie | 6,350.36 | 6,605.47 | 7,017.22 | 7,272.33 | 7,684.08 | 7,939.19 | 8,350.94 |
| Fibonacci | 6,579.36 | 6,834.10 | 6,991.48 | 7,246.22 | 7,500.96 | 7,658.34 | 7,913.08 |
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 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): | 62.21 | |
| MACD (12,26,9): | 15.5800 | |
| Directional Movement: | 24.27 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 7,442.49 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,315.78 | |
| Elder Ray (13): | 100.09 | |
| Super Trend (3,10): | 7,372.54 | |
| Zig ZAG (10): | 7,524.65 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 76.63 | |
| TEMA (21): | 7,441.15 | |
| Williams %R (14): | -22.53 | |
| Chande Momentum Oscillator (20): | 66.40 | |
| Repulse (5,40,3): | 1.5700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.25 |
| MA7: | 7,261.12 | |
| MA20: | 7,259.78 | |
| MA50: | 7,326.32 | |
| MA100: | 7,945.73 | |
| MAexp7: | 7,449.89 | |
| MAexp20: | 7,420.27 | |
| MAexp50: | 7,380.58 | |
| MAexp100: | 7,326.11 | |
| Price / MA7: | +3.55% | |
| Price / MA20: | +3.57% | |
| Price / MA50: | +2.63% | |
| Price / MA100: | -5.37% | |
| Price / MAexp7: | +0.93% | |
| Price / MAexp20: | +1.33% | |
| Price / MAexp50: | +1.87% | |
| Price / MAexp100: | +2.63% |
This member declared not having a position on this financial instrument or a related financial instrument.
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