BITCOIN - BTC/USD - 1H - Technical analysis published on 02/06/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 9,597.00 USD
My targets
10,056.90 USD (+2.44%)
10,627.40 USD (+8.25%)
My analysis
The bullish trend is currently very strong on BITCOIN - BTC/USD. As long as the price remains above the support at 9,597.00 USD, you could try to benefit from the boom. The first bullish objective is located at 10,056.90 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 10,627.40 USD as an objective. Crossing it would then enable buyers to target 11,989.00 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
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
8.2
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This analysis was given by renodonor. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 9,817.50 USD. The price registered an increase of +2.17% on the session with the lowest point at 9,526.00 USD and the highest point at 9,853.00 USD. The deviation from the price is +3.06% for the low point and -0.36% for the high point.9,526.00
9,853.00
9,817.50
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 9,516.95 | 9,597.00 | 9,762.50 | 9,817.50 | 10,056.90 | 10,627.40 | 11,989.00 |
| Change (%) | -3.06% | -2.25% | -0.56% | - | +2.44% | +8.25% | +22.12% |
| Change | -300.55 | -220.50 | -55.00 | - | +239.40 | +809.90 | +2,171.50 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Minor | 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 | 8,639.73 | 8,894.97 | 9,252.03 | 9,507.27 | 9,864.33 | 10,119.57 | 10,476.63 |
| Camarilla | 9,440.72 | 9,496.85 | 9,552.97 | 9,609.10 | 9,665.23 | 9,721.36 | 9,777.48 |
| Woodie | 8,690.65 | 8,920.43 | 9,302.95 | 9,532.73 | 9,915.25 | 10,145.03 | 10,527.55 |
| Fibonacci | 8,894.97 | 9,128.87 | 9,273.37 | 9,507.27 | 9,741.17 | 9,885.67 | 10,119.57 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,305.35 | 7,794.86 | 8,585.98 | 9,075.49 | 9,866.61 | 10,356.12 | 11,147.24 |
| Camarilla | 9,024.93 | 9,142.32 | 9,259.71 | 9,377.10 | 9,494.49 | 9,611.88 | 9,729.27 |
| Woodie | 7,456.16 | 7,870.26 | 8,736.78 | 9,150.89 | 10,017.42 | 10,431.52 | 11,298.05 |
| Fibonacci | 7,794.86 | 8,284.06 | 8,586.29 | 9,075.49 | 9,564.69 | 9,866.92 | 10,356.12 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,903.28 | 5,881.93 | 7,607.71 | 8,586.36 | 10,312.14 | 11,290.79 | 13,016.57 |
| Camarilla | 8,589.78 | 8,837.69 | 9,085.59 | 9,333.50 | 9,581.41 | 9,829.31 | 10,077.22 |
| Woodie | 5,276.86 | 6,068.71 | 7,981.29 | 8,773.14 | 10,685.72 | 11,477.57 | 13,390.15 |
| Fibonacci | 5,881.93 | 6,915.02 | 7,553.26 | 8,586.36 | 9,619.45 | 10,257.70 | 11,290.79 |
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): | 67.51 | |
| MACD (12,26,9): | 83.9500 | |
| Directional Movement: | 21.01 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 9,771.23 | |
| Parabolic SAR (0,02-0,02-0,2): | 9,587.82 | |
| Elder Ray (13): | 95.10 | |
| Super Trend (3,10): | 9,551.04 | |
| Zig ZAG (10): | 9,799.20 | |
| VORTEX (21): | 1.0700 | |
| Stochastique (14,3,5): | 77.46 | |
| TEMA (21): | 9,784.54 | |
| Williams %R (14): | -19.20 | |
| Chande Momentum Oscillator (20): | 177.10 | |
| Repulse (5,40,3): | 0.8700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 2.50 |
| MA7: | 9,410.60 | |
| MA20: | 9,014.76 | |
| MA50: | 8,205.16 | |
| MA100: | 8,090.11 | |
| MAexp7: | 9,754.19 | |
| MAexp20: | 9,656.69 | |
| MAexp50: | 9,522.15 | |
| MAexp100: | 9,428.78 | |
| Price / MA7: | +4.32% | |
| Price / MA20: | +8.90% | |
| Price / MA50: | +19.65% | |
| Price / MA100: | +21.35% | |
| Price / MAexp7: | +0.65% | |
| Price / MAexp20: | +1.67% | |
| Price / MAexp50: | +3.10% | |
| Price / MAexp100: | +4.12% |
This member declared not having a position on this financial instrument or a related financial instrument.
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