BITCOIN - BTC/USD
BITCOIN - BTC/USD
- USD (-)
- Real time data - Cryptocompare
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Type: Cryptocurrencies
Ticker: BTCUSD
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BITCOIN - BTC/USD - 1H - Technical analysis published on 03/12/2020 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Court terme: Strongly bearish
De fond: Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 6,615.23 USD
My targets
5,875.21 USD (-1.90%)
5,742.50 USD (-4.12%)
My analysis
The bearish trend is currently very strong for BITCOIN - BTC/USD. As long as the price remains below the resistance at 6,615.23 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 5,875.21 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 5,742.50 USD as an objective. Crossing it would then enable sellers to target 3,182.14 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 sentiment is not called into question, despite technical indicators being neutral.
FORCE
0
10
7.1

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 a1td. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

BITCOIN - BTC/USD rating 5,989.20 USD. The price is lower by -24.62% since the last closing with the lowest point at 5,667.00 USD and the highest point at 7,967.30 USD. The deviation from the price is +5.69% for the low point and -24.83% for the high point.

5,667.00
7,967.30
5,989.20

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The Central Records scanner for higher/lower results shows the following items:

Central Records

New LOW record (1 year)

Type : Bearish

Timeframe : Weekly


New LOW record (1st january)

Type : Bearish

Timeframe : Weekly


New LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of BITCOIN - BTC/USD in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being 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, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 4 are neutral and 10 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

RSI indicator is oversold : under 10

Type : Neutral

Timeframe : 1 hour


CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour


Previous candle closed under Bollinger bands

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

Pivot points : price is under support 3

Type : Neutral

Timeframe : 1 hour


Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Central Patterns

Horizontal support is broken

Type : Bearish

Timeframe : 1 hour



From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:

Central Candlesticks

Doji

Type : Neutral

Timeframe : 1 hour


Long black line

Type : Bearish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 1,237.55 3,182.14 5,875.21 5,989.20 6,615.23 6,924.53 7,423.21
Change (%) -79.34% -46.87% -1.90% - +10.45% +15.62% +23.94%
Change -4,751.65 -2,807.06 -113.99 - +626.03 +935.33 +1,434.01
Level Minor Major Major - Minor Intermediate Intermediate



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7,301.837,446.677,696.137,840.978,090.438,235.278,484.73
Camarilla7,837.177,873.317,909.467,945.607,981.758,017.898,054.03
Woodie7,354.157,472.837,748.457,867.138,142.758,261.438,537.05
Fibonacci7,446.677,597.297,690.347,840.977,991.598,084.648,235.27


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7,654.088,028.558,464.078,838.549,274.069,648.5310,084.05
Camarilla8,676.858,751.108,825.358,899.608,973.859,048.109,122.35
Woodie7,684.618,043.818,494.618,853.809,304.609,663.7910,114.59
Fibonacci8,028.558,337.968,529.128,838.549,147.959,339.119,648.53


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard5,742.507,090.907,809.009,157.409,875.5011,223.9011,942.00
Camarilla7,958.818,148.248,337.678,527.108,716.538,905.969,095.39
Woodie5,427.356,933.337,493.858,999.839,560.3511,066.3311,626.85
Fibonacci7,090.907,880.308,368.009,157.409,946.8010,434.5011,223.90

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): 13.65
MACD (12,26,9): -379.9000
Directional Movement: -51.60
AROON (14): -85.71
DEMA (21): 6,835.07
Parabolic SAR (0,02-0,02-0,2): 7,361.00
Elder Ray (13): -928.06
Super Trend (3,10): 7,006.74
Zig ZAG (10): 6,069.70
VORTEX (21): 0.6100
Stochastique (14,3,5): 16.92
TEMA (21): 6,526.04
Williams %R (14): -82.56
Chande Momentum Oscillator (20): -1,852.30
Repulse (5,40,3): -12.9000
ROCnROLL: 2
TRIX (15,9): -0.3300
Courbe Coppock: 27.82
MA7: 7,992.23
MA20: 8,664.80
MA50: 9,194.26
MA100: 8,416.29
MAexp7: 6,665.65
MAexp20: 7,250.39
MAexp50: 7,606.16
MAexp100: 7,886.04
Price / MA7: -25.06%
Price / MA20: -30.88%
Price / MA50: -34.86%
Price / MA100: -28.84%
Price / MAexp7: -10.15%
Price / MAexp20: -17.39%
Price / MAexp50: -21.26%
Price / MAexp100: -24.05%

This member declared not having a position on this financial instrument or a related financial instrument.

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