BITCOIN - BTC/USD - Daily - Technical analysis published on 01/24/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
28%
17%
56%
My opinion
Bullish above 7,423.21 USD
My targets
9,516.95 USD (+12.12%)
10,627.40 USD (+25.20%)
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 9,516.95 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 10,627.40 USD. If there is any crossing, the next objective would be the resistance located at 11,989.00 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
FORCE
0
10
5.7
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 Edd8011. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 8,488.00 USD. The price is lower by +1.15% since the last closing and was traded between 8,216.79 USD and 8,510.98 USD over the period. The price is currently at +3.30% from its lowest and -0.27% from its highest.8,216.79
8,510.98
8,488.00
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
Technical analysis of BITCOIN - BTC/USD in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA50 & AMA100
Type : Bullish
Timeframe : Daily
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Daily
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Near resistance of triangle
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
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 | 5,875.21 | 6,930.36 | 7,423.21 | 8,488.00 | 8,589.45 | 9,516.95 | 10,627.40 |
| Change (%) | -30.78% | -18.35% | -12.54% | - | +1.20% | +12.12% | +25.20% |
| Change | -2,612.79 | -1,557.64 | -1,064.79 | - | +101.45 | +1,028.95 | +2,139.40 |
| 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 | 7,842.05 | 8,061.57 | 8,226.52 | 8,446.04 | 8,610.99 | 8,830.51 | 8,995.46 |
| Camarilla | 8,285.73 | 8,320.97 | 8,356.22 | 8,391.46 | 8,426.70 | 8,461.95 | 8,497.19 |
| Woodie | 7,814.75 | 8,047.93 | 8,199.23 | 8,432.40 | 8,583.70 | 8,816.87 | 8,968.17 |
| Fibonacci | 8,061.57 | 8,208.44 | 8,299.18 | 8,446.04 | 8,592.91 | 8,683.65 | 8,830.51 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,193.67 | 7,572.43 | 8,246.09 | 8,624.85 | 9,298.51 | 9,677.27 | 10,350.93 |
| Camarilla | 8,630.33 | 8,726.80 | 8,823.27 | 8,919.74 | 9,016.21 | 9,112.68 | 9,209.16 |
| Woodie | 7,341.11 | 7,646.16 | 8,393.53 | 8,698.58 | 9,445.95 | 9,751.00 | 10,498.37 |
| Fibonacci | 7,572.43 | 7,974.46 | 8,222.83 | 8,624.85 | 9,026.88 | 9,275.25 | 9,677.27 |
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): | 56.57 | |
| MACD (12,26,9): | 285.0900 | |
| Directional Movement: | 5.55 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 8,729.62 | |
| Parabolic SAR (0,02-0,02-0,2): | 9,166.92 | |
| Elder Ray (13): | -129.91 | |
| Super Trend (3,10): | 7,921.64 | |
| Zig ZAG (10): | 8,481.89 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 52.24 | |
| TEMA (21): | 8,854.21 | |
| Williams %R (14): | -56.24 | |
| Chande Momentum Oscillator (20): | 314.99 | |
| Repulse (5,40,3): | 0.5200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.6300 | |
| Courbe Coppock: | 18.53 |
| MA7: | 8,646.24 | |
| MA20: | 8,371.12 | |
| MA50: | 7,684.76 | |
| MA100: | 7,987.42 | |
| MAexp7: | 8,574.43 | |
| MAexp20: | 8,344.22 | |
| MAexp50: | 8,016.31 | |
| MAexp100: | 8,127.64 | |
| Price / MA7: | -1.83% | |
| Price / MA20: | +1.40% | |
| Price / MA50: | +10.45% | |
| Price / MA100: | +6.27% | |
| Price / MAexp7: | -1.01% | |
| Price / MAexp20: | +1.72% | |
| Price / MAexp50: | +5.88% | |
| Price / MAexp100: | +4.43% |
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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