BITCOIN - BTC/USD - Daily - Technical analysis published on 02/14/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 10,056.90 USD
My targets
10,627.40 USD (+3.34%)
11,989.00 USD (+16.58%)
My analysis
The bullish trend is currently very strong on BITCOIN - BTC/USD. As long as the price remains above the support at 10,056.90 USD, you could try to benefit from the boom. The first bullish objective is located at 10,627.40 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 11,989.00 USD as an objective. Crossing it would then enable buyers to target 12,932.90 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.
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
8.6
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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 10,284.30 USD. The price has increased by +0.40% since the last closing and was between 10,099.70 USD and 10,341.10 USD. This implies that the price is at +1.83% from its lowest and at -0.55% from its highest.10,099.70
10,341.10
10,284.30
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:
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 Daily of this BITCOIN - BTC/USD chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
CCI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
RSI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8,347.77 | 9,516.95 | 10,056.90 | 10,284.30 | 10,627.40 | 11,989.00 | 12,932.90 |
| Change (%) | -18.83% | -7.46% | -2.21% | - | +3.34% | +16.58% | +25.75% |
| Change | -1,936.53 | -767.35 | -227.40 | - | +343.10 | +1,704.70 | +2,648.60 |
| Level | Minor | Major | Intermediate | - | Minor | Intermediate | Intermediate |
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 | 9,623.70 | 9,852.70 | 10,047.80 | 10,276.80 | 10,471.90 | 10,700.90 | 10,896.00 |
| Camarilla | 10,126.27 | 10,165.15 | 10,204.02 | 10,242.90 | 10,281.78 | 10,320.65 | 10,359.53 |
| Woodie | 9,606.75 | 9,844.23 | 10,030.85 | 10,268.33 | 10,454.95 | 10,692.43 | 10,879.05 |
| Fibonacci | 9,852.70 | 10,014.71 | 10,114.79 | 10,276.80 | 10,438.81 | 10,538.89 | 10,700.90 |
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): | 68.74 | |
| MACD (12,26,9): | 462.0500 | |
| Directional Movement: | 16.16 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 10,256.93 | |
| Parabolic SAR (0,02-0,02-0,2): | 9,868.60 | |
| Elder Ray (13): | 326.50 | |
| Super Trend (3,10): | 9,319.40 | |
| Zig ZAG (10): | 10,273.60 | |
| VORTEX (21): | 1.2700 | |
| Stochastique (14,3,5): | 85.34 | |
| TEMA (21): | 10,377.18 | |
| Williams %R (14): | -16.23 | |
| Chande Momentum Oscillator (20): | 951.90 | |
| Repulse (5,40,3): | 1.8900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.7100 | |
| Courbe Coppock: | 21.25 |
| MA7: | 10,152.53 | |
| MA20: | 9,616.92 | |
| MA50: | 8,662.66 | |
| MA100: | 8,156.90 | |
| MAexp7: | 10,124.15 | |
| MAexp20: | 9,652.62 | |
| MAexp50: | 8,957.94 | |
| MAexp100: | 8,634.71 | |
| Price / MA7: | +1.30% | |
| Price / MA20: | +6.94% | |
| Price / MA50: | +18.72% | |
| Price / MA100: | +26.08% | |
| Price / MAexp7: | +1.58% | |
| Price / MAexp20: | +6.54% | |
| Price / MAexp50: | +14.81% | |
| Price / MAexp100: | +19.10% |
This member declared not having a position on this financial instrument or a related financial instrument.
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