BITCOIN - BTC/USD - 1H - Technical analysis published on 03/19/2020 (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 bullish
De fond:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 5,742.50 USD
My targets
5,991.17 USD (+1.90%)
7,090.90 USD (+20.60%)
My analysis
The bullish trend is currently very strong on BITCOIN - BTC/USD. As long as the price remains above the support at 5,742.50 USD, you could try to benefit from the boom. The first bullish objective is located at 5,991.17 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 7,090.90 USD as an objective. Crossing it would then enable buyers to target 7,423.21 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
BITCOIN - BTC/USD rating 5,879.50 USD. On the day, this instrument gained +8.60% and was traded between 5,263.58 USD and 5,879.50 USD over the period. The price is currently at +11.70% from its lowest and 0% from its highest.5,263.58
5,879.50
5,879.50
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend 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:
Technical
A technical analysis in 1H of this BITCOIN - BTC/USD chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 16 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
Type : Bearish
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 engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4,835.20 | 5,551.92 | 5,875.21 | 5,879.50 | 7,423.21 | 7,985.80 | 8,347.77 |
| Change (%) | -17.76% | -5.57% | -0.07% | - | +26.26% | +35.82% | +41.98% |
| Change | -1,044.30 | -327.58 | -4.29 | - | +1,543.71 | +2,106.30 | +2,468.27 |
| Level | Major | Intermediate | Major | - | Intermediate | Intermediate | 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 | 4,685.28 | 4,845.40 | 5,129.66 | 5,289.78 | 5,574.04 | 5,734.16 | 6,018.42 |
| Camarilla | 5,291.71 | 5,332.44 | 5,373.18 | 5,413.91 | 5,454.65 | 5,495.38 | 5,536.12 |
| Woodie | 4,747.34 | 4,876.44 | 5,191.72 | 5,320.82 | 5,636.10 | 5,765.20 | 6,080.48 |
| Fibonacci | 4,845.40 | 5,015.16 | 5,120.03 | 5,289.78 | 5,459.54 | 5,564.41 | 5,734.16 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -1,851.57 | 1,037.37 | 3,102.23 | 5,991.17 | 8,056.03 | 10,944.97 | 13,009.83 |
| Camarilla | 3,804.81 | 4,258.90 | 4,713.00 | 5,167.10 | 5,621.20 | 6,075.30 | 6,529.40 |
| Woodie | -2,263.60 | 831.35 | 2,690.20 | 5,785.15 | 7,644.00 | 10,738.95 | 12,597.80 |
| Fibonacci | 1,037.37 | 2,929.72 | 4,098.82 | 5,991.17 | 7,883.52 | 9,052.62 | 10,944.97 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,742.50 | 7,090.90 | 7,809.00 | 9,157.40 | 9,875.50 | 11,223.90 | 11,942.00 |
| Camarilla | 7,958.81 | 8,148.24 | 8,337.67 | 8,527.10 | 8,716.53 | 8,905.96 | 9,095.39 |
| Woodie | 5,427.35 | 6,933.33 | 7,493.85 | 8,999.83 | 9,560.35 | 11,066.33 | 11,626.85 |
| Fibonacci | 7,090.90 | 7,880.30 | 8,368.00 | 9,157.40 | 9,946.80 | 10,434.50 | 11,223.90 |
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): | 77.78 | |
| MACD (12,26,9): | 95.4900 | |
| Directional Movement: | 25.28 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 5,566.10 | |
| Parabolic SAR (0,02-0,02-0,2): | 5,445.83 | |
| Elder Ray (13): | 235.62 | |
| Super Trend (3,10): | 5,416.28 | |
| Zig ZAG (10): | 5,814.00 | |
| VORTEX (21): | 1.2400 | |
| Stochastique (14,3,5): | 88.61 | |
| TEMA (21): | 5,627.73 | |
| Williams %R (14): | -6.38 | |
| Chande Momentum Oscillator (20): | 456.45 | |
| Repulse (5,40,3): | 5.4700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1300 | |
| Courbe Coppock: | 7.91 |
| MA7: | 5,398.82 | |
| MA20: | 7,249.65 | |
| MA50: | 8,696.45 | |
| MA100: | 8,263.26 | |
| MAexp7: | 5,678.01 | |
| MAexp20: | 5,461.73 | |
| MAexp50: | 5,367.97 | |
| MAexp100: | 5,402.14 | |
| Price / MA7: | +8.90% | |
| Price / MA20: | -18.90% | |
| Price / MA50: | -32.39% | |
| Price / MA100: | -28.85% | |
| Price / MAexp7: | +3.55% | |
| Price / MAexp20: | +7.65% | |
| Price / MAexp50: | +9.53% | |
| Price / MAexp100: | +8.84% |
This member declared not having a position on this financial instrument or a related financial instrument.
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