BITCOIN - BTC/USD - 1H - Technical analysis published on 02/17/2020 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
50%
17%
33%
My opinion
Bearish under 9,876.12 USD
My targets
9,516.95 USD (-1.84%)
8,776.70 USD (-9.47%)
My analysis
The bearish trend is currently very strong for BITCOIN - BTC/USD. As long as the price remains below the resistance at 9,876.12 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 9,516.95 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 8,776.70 USD as an objective. Crossing it would then enable sellers to target 8,347.77 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
FORCE
0
10
5
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This analysis was given by renodonor. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 9,694.90 USD. The price is lower by -2.30% since the last closing with the lowest point at 9,476.40 USD and the highest point at 9,953.10 USD. The deviation from the price is +2.31% for the low point and -2.59% for the high point.9,476.40
9,953.10
9,694.90
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this BITCOIN - BTC/USD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7,458.58 | 8,347.77 | 9,516.95 | 9,694.90 | 9,711.57 | 9,876.12 | 10,056.90 |
| Change (%) | -23.07% | -13.90% | -1.84% | - | +0.17% | +1.87% | +3.73% |
| Change | -2,236.32 | -1,347.13 | -177.95 | - | +16.67 | +181.22 | +362.00 |
| Level | Minor | Minor | Major | - | Intermediate | Minor | 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 | 9,291.77 | 9,467.43 | 9,695.47 | 9,871.13 | 10,099.17 | 10,274.83 | 10,502.87 |
| Camarilla | 9,812.48 | 9,849.49 | 9,886.50 | 9,923.50 | 9,960.51 | 9,997.51 | 10,034.52 |
| Woodie | 9,317.95 | 9,480.53 | 9,721.65 | 9,884.23 | 10,125.35 | 10,287.93 | 10,529.05 |
| Fibonacci | 9,467.43 | 9,621.65 | 9,716.92 | 9,871.13 | 10,025.35 | 10,120.62 | 10,274.83 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,776.70 | 9,243.00 | 9,573.20 | 10,039.50 | 10,369.70 | 10,836.00 | 11,166.20 |
| Camarilla | 9,684.36 | 9,757.38 | 9,830.39 | 9,903.40 | 9,976.41 | 10,049.43 | 10,122.44 |
| Woodie | 8,708.65 | 9,208.98 | 9,505.15 | 10,005.48 | 10,301.65 | 10,801.98 | 11,098.15 |
| Fibonacci | 9,243.00 | 9,547.26 | 9,735.24 | 10,039.50 | 10,343.76 | 10,531.74 | 10,836.00 |
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): | 43.54 | |
| MACD (12,26,9): | -55.8700 | |
| Directional Movement: | -11.13 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 9,640.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 9,754.20 | |
| Elder Ray (13): | 3.10 | |
| Super Trend (3,10): | 9,825.01 | |
| Zig ZAG (10): | 9,697.70 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 56.03 | |
| TEMA (21): | 9,641.54 | |
| Williams %R (14): | -40.03 | |
| Chande Momentum Oscillator (20): | -117.30 | |
| Repulse (5,40,3): | 0.6500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0900 | |
| Courbe Coppock: | 2.95 |
| MA7: | 10,108.80 | |
| MA20: | 9,753.69 | |
| MA50: | 8,816.19 | |
| MA100: | 8,185.09 | |
| MAexp7: | 9,674.61 | |
| MAexp20: | 9,715.37 | |
| MAexp50: | 9,828.47 | |
| MAexp100: | 9,940.87 | |
| Price / MA7: | -4.09% | |
| Price / MA20: | -0.60% | |
| Price / MA50: | +9.97% | |
| Price / MA100: | +18.45% | |
| Price / MAexp7: | +0.21% | |
| Price / MAexp20: | -0.21% | |
| Price / MAexp50: | -1.36% | |
| Price / MAexp100: | -2.47% |
This member declared not having a position on this financial instrument or a related financial instrument.
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