BITCOIN - BTC/USD - 1H - Technical analysis published on 03/23/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 6,428.30 USD
My targets
6,935.10 USD (+6.72%)
7,423.21 USD (+14.23%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BITCOIN - BTC/USD as long as the price remains well above 6,428.30 USD. The buyers” bullish objective is set at 6,935.10 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7,423.21 USD. If there is any crossing, the next objective would be the resistance located at 8,567.80 USD.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
FORCE
0
10
6.1
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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 6,498.33 USD. The price registered an increase of +11.60% on the session with the lowest point at 5,694.08 USD and the highest point at 6,498.33 USD. The deviation from the price is +14.12% for the low point and 0% for the high point.5,694.08
6,498.33
6,498.33
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
Technical
Technical analysis of this 1H chart of BITCOIN - BTC/USD indicates that the overall trend is bullish. The signals returned by the moving averages are 75% bullish. This bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
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 1
Type : Neutral
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
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 several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5,568.51 | 5,875.21 | 6,428.30 | 6,498.33 | 6,935.10 | 7,423.21 | 8,567.80 |
| Change (%) | -14.31% | -9.59% | -1.08% | - | +6.72% | +14.23% | +31.85% |
| Change | -929.82 | -623.12 | -70.03 | - | +436.77 | +924.88 | +2,069.47 |
| Level | Intermediate | Major | Minor | - | Intermediate | Minor | 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 | 4,889.76 | 5,315.23 | 5,568.96 | 5,994.43 | 6,248.16 | 6,673.63 | 6,927.36 |
| Camarilla | 5,635.91 | 5,698.17 | 5,760.43 | 5,822.69 | 5,884.95 | 5,947.21 | 6,009.47 |
| Woodie | 4,803.89 | 5,272.30 | 5,483.09 | 5,951.50 | 6,162.29 | 6,630.70 | 6,841.49 |
| Fibonacci | 5,315.23 | 5,574.69 | 5,734.98 | 5,994.43 | 6,253.88 | 6,414.18 | 6,673.63 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,270.30 | 3,352.82 | 4,770.06 | 5,852.58 | 7,269.82 | 8,352.34 | 9,769.58 |
| Camarilla | 5,499.87 | 5,729.01 | 5,958.16 | 6,187.30 | 6,416.45 | 6,645.59 | 6,874.73 |
| Woodie | 2,437.66 | 3,436.50 | 4,937.42 | 5,936.26 | 7,437.18 | 8,436.02 | 9,936.94 |
| Fibonacci | 3,352.82 | 4,307.73 | 4,897.67 | 5,852.58 | 6,807.49 | 7,397.43 | 8,352.34 |
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): | 64.47 | |
| MACD (12,26,9): | -35.3100 | |
| Directional Movement: | 14.22 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 5,901.42 | |
| Parabolic SAR (0,02-0,02-0,2): | 5,694.08 | |
| Elder Ray (13): | 159.51 | |
| Super Trend (3,10): | 5,648.65 | |
| Zig ZAG (10): | 6,311.90 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 60.44 | |
| TEMA (21): | 5,926.61 | |
| Williams %R (14): | -4.35 | |
| Chande Momentum Oscillator (20): | 419.86 | |
| Repulse (5,40,3): | 8.5300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.1700 | |
| Courbe Coppock: | 0.27 |
| MA7: | 5,928.59 | |
| MA20: | 6,755.78 | |
| MA50: | 8,442.90 | |
| MA100: | 8,224.71 | |
| MAexp7: | 5,983.40 | |
| MAexp20: | 5,962.71 | |
| MAexp50: | 6,036.52 | |
| MAexp100: | 5,993.37 | |
| Price / MA7: | +9.61% | |
| Price / MA20: | -3.81% | |
| Price / MA50: | -23.03% | |
| Price / MA100: | -20.99% | |
| Price / MAexp7: | +8.61% | |
| Price / MAexp20: | +8.98% | |
| Price / MAexp50: | +7.65% | |
| Price / MAexp100: | +8.43% |
This member declared not having a position on this financial instrument or a related financial instrument.
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