BITCOIN - BTC/USD - 1H - Technical analysis published on 03/20/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Slightly bullish
Technical indicators
17%
61%
22%
My opinion
Bearish under 5,991.17 USD
My targets
5,875.21 USD (-1.75%)
5,742.50 USD (-3.97%)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for BITCOIN - BTC/USD as long as the price remains well below 5,991.17 USD. The next bearish objective for sellers is set at 5,875.21 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 5,742.50 USD. In case of crossing, the next objective would be the support located at 4,835.20 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 5,875.21 USD. With this support, against the trend traders who want to buy BITCOIN - BTC/USD on a buy signal from their trading strategy should not hesitate to act.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
FORCE
0
10
1.8
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This analysis was given by a1td. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 5,980.00 USD. The price registered an increase of -3.31% on the session with the lowest point at 5,823.90 USD and the highest point at 6,935.10 USD. The deviation from the price is +2.68% for the low point and -13.77% for the high point.5,823.90
6,935.10
5,980.00
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
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 slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
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
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 | 4,435.34 | 4,835.20 | 5,875.21 | 5,980.00 | 6,373.40 | 7,423.21 | 7,985.80 |
| Change (%) | -25.83% | -19.14% | -1.75% | - | +6.58% | +24.13% | +33.54% |
| Change | -1,544.66 | -1,144.80 | -104.79 | - | +393.40 | +1,443.21 | +2,005.80 |
| Level | Minor | Major | Major | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,324.57 | 4,794.07 | 5,489.29 | 5,958.79 | 6,654.01 | 7,123.51 | 7,818.73 |
| Camarilla | 5,864.20 | 5,970.97 | 6,077.73 | 6,184.50 | 6,291.27 | 6,398.03 | 6,504.80 |
| Woodie | 4,437.42 | 4,850.50 | 5,602.14 | 6,015.22 | 6,766.86 | 7,179.94 | 7,931.58 |
| Fibonacci | 4,794.07 | 5,239.00 | 5,513.87 | 5,958.79 | 6,403.72 | 6,678.59 | 7,123.51 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 37.48 | |
| MACD (12,26,9): | 56.4800 | |
| Directional Movement: | -13.14 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 6,453.59 | |
| Parabolic SAR (0,02-0,02-0,2): | 6,854.93 | |
| Elder Ray (13): | -333.25 | |
| Super Trend (3,10): | 6,599.14 | |
| Zig ZAG (10): | 5,916.90 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 4.44 | |
| TEMA (21): | 6,335.82 | |
| Williams %R (14): | -94.12 | |
| Chande Momentum Oscillator (20): | -721.20 | |
| Repulse (5,40,3): | -8.8600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.3600 | |
| Courbe Coppock: | 0.63 |
| MA7: | 5,483.82 | |
| MA20: | 7,136.02 | |
| MA50: | 8,631.71 | |
| MA100: | 8,253.84 | |
| MAexp7: | 6,266.62 | |
| MAexp20: | 6,336.92 | |
| MAexp50: | 6,085.15 | |
| MAexp100: | 5,849.45 | |
| Price / MA7: | +9.05% | |
| Price / MA20: | -16.20% | |
| Price / MA50: | -30.72% | |
| Price / MA100: | -27.55% | |
| Price / MAexp7: | -4.57% | |
| Price / MAexp20: | -5.63% | |
| Price / MAexp50: | -1.73% | |
| Price / MAexp100: | +2.23% |
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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