BITCOIN - BTC/USD - Weekly - Technical analysis published on 01/16/2020 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Bullish
Technical indicators
50%
22%
28%
My opinion
Bullish above 7,126.65 USD
My targets
9,516.95 USD (+10.44%)
12,932.90 USD (+50.08%)
My analysis
All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on BITCOIN - BTC/USD as long as the price remains well above 7,126.65 USD. The buyers” bullish objective is set at 9,516.95 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 12,932.90 USD. If there is any crossing, the next objective would be the resistance located at 19,345.50 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
FORCE
0
10
5.2
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 8,617.54 USD. The price is lower by +5.23% over the 5 days with the lowest point at 7,951.20 USD and the highest point at 8,889.30 USD. The deviation from the price is +8.38% for the low point and -3.06% for the high point.8,587.65
8,852.00
8,617.54
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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
A technical analysis in Weekly of this BITCOIN - BTC/USD chart shows a bullish trend. The signals given by moving averages are 78.57% bullish. This bullish trend is slowing down slightly given the slightly bullish signals of short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : Weekly
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : Weekly
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Weekly
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
Timeframe : Weekly
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 | 1,237.55 | 3,182.14 | 5,875.21 | 8,617.54 | 9,516.95 | 12,932.90 | 19,345.50 |
| Change (%) | -85.64% | -63.07% | -31.82% | - | +10.44% | +50.08% | +124.49% |
| Change | -7,379.99 | -5,435.40 | -2,742.33 | - | +899.41 | +4,315.36 | +10,727.96 |
| Level | Minor | Major | Intermediate | - | Intermediate | Major | Major |
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 | 8,277.49 | 8,418.74 | 8,615.60 | 8,756.85 | 8,953.71 | 9,094.96 | 9,291.82 |
| Camarilla | 8,719.47 | 8,750.46 | 8,781.46 | 8,812.45 | 8,843.44 | 8,874.44 | 8,905.43 |
| Woodie | 8,305.28 | 8,432.64 | 8,643.40 | 8,770.75 | 8,981.51 | 9,108.86 | 9,319.62 |
| Fibonacci | 8,418.74 | 8,547.90 | 8,627.70 | 8,756.85 | 8,886.01 | 8,965.81 | 9,094.96 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,248.35 | 6,779.55 | 7,400.92 | 7,932.12 | 8,553.49 | 9,084.69 | 9,706.06 |
| Camarilla | 7,705.33 | 7,810.99 | 7,916.64 | 8,022.29 | 8,127.94 | 8,233.60 | 8,339.25 |
| Woodie | 6,293.43 | 6,802.09 | 7,446.01 | 7,954.66 | 8,598.58 | 9,107.23 | 9,751.15 |
| Fibonacci | 6,779.55 | 7,219.83 | 7,491.84 | 7,932.12 | 8,372.40 | 8,644.41 | 9,084.69 |
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): | 53.57 | |
| MACD (12,26,9): | -214.7100 | |
| Directional Movement: | 2.83 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 7,996.36 | |
| Parabolic SAR (0,02-0,02-0,2): | 6,473.01 | |
| Elder Ray (13): | 411.03 | |
| Super Trend (3,10): | 10,554.34 | |
| Zig ZAG (10): | 8,631.85 | |
| VORTEX (21): | 0.9200 | |
| Stochastique (14,3,5): | 38.25 | |
| TEMA (21): | 7,428.10 | |
| Williams %R (14): | -46.45 | |
| Chande Momentum Oscillator (20): | -628.58 | |
| Repulse (5,40,3): | 13.8800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.2300 | |
| Courbe Coppock: | 28.68 |
| MA7: | 8,394.29 | |
| MA20: | 7,788.66 | |
| MA50: | 7,481.23 | |
| MA100: | 7,957.82 | |
| MAexp7: | 7,879.42 | |
| MAexp20: | 8,171.41 | |
| MAexp50: | 7,914.14 | |
| MAexp100: | 7,141.21 | |
| Price / MA7: | +2.66% | |
| Price / MA20: | +10.64% | |
| Price / MA50: | +15.19% | |
| Price / MA100: | +8.29% | |
| Price / MAexp7: | +9.37% | |
| Price / MAexp20: | +5.46% | |
| Price / MAexp50: | +8.89% | |
| Price / MAexp100: | +20.67% |
This member declared not having a position on this financial instrument or a related financial instrument.
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