BITCOIN - BTC/USD - Daily - Technical analysis published on 02/10/2020 (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
61%
11%
28%
My opinion
Bullish above 9,516.95 USD
My targets
10,056.90 USD (+2.46%)
10,627.40 USD (+8.27%)
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 9,516.95 USD. The buyers” bullish objective is set at 10,056.90 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
7.7
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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 9,815.90 USD. The price has increased by -3.39% since the last closing with the lowest point at 9,760.00 USD and the highest point at 10,200.00 USD. The deviation from the price is +0.57% for the low point and -3.77% for the high point.9,760.00
10,200.00
9,815.90
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:
Technical
A technical analysis in Daily of this BITCOIN - BTC/USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8,340.93 | 8,919.74 | 9,516.95 | 9,815.90 | 10,056.90 | 10,627.40 | 11,989.00 |
| Change (%) | -15.03% | -9.13% | -3.05% | - | +2.46% | +8.27% | +22.14% |
| Change | -1,474.97 | -896.16 | -298.95 | - | +241.00 | +811.50 | +2,173.10 |
| Level | Minor | Minor | Major | - | Intermediate | Minor | 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 | 9,679.20 | 9,783.30 | 9,971.80 | 10,075.90 | 10,264.40 | 10,368.50 | 10,557.00 |
| Camarilla | 10,079.84 | 10,106.66 | 10,133.48 | 10,160.30 | 10,187.12 | 10,213.94 | 10,240.77 |
| Woodie | 9,721.40 | 9,804.40 | 10,014.00 | 10,097.00 | 10,306.60 | 10,389.60 | 10,599.20 |
| Fibonacci | 9,783.30 | 9,895.07 | 9,964.13 | 10,075.90 | 10,187.67 | 10,256.73 | 10,368.50 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,478.53 | 8,778.77 | 9,341.53 | 9,641.77 | 10,204.53 | 10,504.77 | 11,067.53 |
| Camarilla | 9,666.98 | 9,746.08 | 9,825.19 | 9,904.30 | 9,983.41 | 10,062.52 | 10,141.63 |
| Woodie | 8,609.80 | 8,844.40 | 9,472.80 | 9,707.40 | 10,335.80 | 10,570.40 | 11,198.80 |
| Fibonacci | 8,778.77 | 9,108.43 | 9,312.10 | 9,641.77 | 9,971.43 | 10,175.10 | 10,504.77 |
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 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): | 64.36 | |
| MACD (12,26,9): | 418.5200 | |
| Directional Movement: | 20.32 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 9,885.97 | |
| Parabolic SAR (0,02-0,02-0,2): | 9,392.32 | |
| Elder Ray (13): | 421.75 | |
| Super Trend (3,10): | 9,081.05 | |
| Zig ZAG (10): | 9,823.50 | |
| VORTEX (21): | 1.1900 | |
| Stochastique (14,3,5): | 89.25 | |
| TEMA (21): | 9,997.93 | |
| Williams %R (14): | -28.77 | |
| Chande Momentum Oscillator (20): | 544.40 | |
| Repulse (5,40,3): | -0.4600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.6600 | |
| Courbe Coppock: | 22.32 |
| MA7: | 9,742.10 | |
| MA20: | 9,248.53 | |
| MA50: | 8,418.29 | |
| MA100: | 8,117.92 | |
| MAexp7: | 9,767.14 | |
| MAexp20: | 9,338.62 | |
| MAexp50: | 8,726.41 | |
| MAexp100: | 8,501.48 | |
| Price / MA7: | +0.76% | |
| Price / MA20: | +6.13% | |
| Price / MA50: | +16.60% | |
| Price / MA100: | +20.92% | |
| Price / MAexp7: | +0.50% | |
| Price / MAexp20: | +5.11% | |
| Price / MAexp50: | +12.48% | |
| Price / MAexp100: | +15.46% |
This member declared not having a position on this financial instrument or a related financial instrument.
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