BITCOIN - BTC/GBP

- GBP (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCGBP
ISIN:

BITCOIN - BTC/GBP - 1H - Technical analysis published on 03/11/2024 (GMT)

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

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

11%

My opinion

Bullish above 54,472.05 GBP

My targets

56,289.17 GBP (+1.71%)

59,318.51 GBP (+7.18%)

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/GBP as long as the price remains well above 54,472.05 GBP. The buyers' bullish objective is set at 56,289.17 GBP. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 59,318.51 GBP. If there is any crossing, the next objective would be the resistance located at 64,164.96 GBP. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

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

8.2

Comment on the analysis

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 OliVymous. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BITCOIN - BTC/GBP rating 55,342.99 GBP. The price has increased by +3.07% since the last closing and was between 52,224.05 GBP and 55,469.46 GBP. This implies that the price is at +5.97% from its lowest and at -0.23% from its highest.

52,224.05

55,469.46

55,342.99

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/GBP:

The study of the highest / lowest by the Central Records scanner shows the following results:

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of BITCOIN - BTC/GBP in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : 1 hour

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : 1 hour

In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

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

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : 1 hour

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : 1 hour

Aroon indicator bullish trend

Type : Bullish

Timeframe : 1 hour

SuperTrend indicator bullish reversal

Type : Bullish

Timeframe : 1 hour

MACD indicator is back over 0

Type : Bullish

Timeframe : 1 hour

Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price
ProTrendLines	51,497.72	52,940.96	54,472.05	55,342.99
Change (%)	-6.95%	-4.34%	-1.57%	-
Change	-3,845.27	-2,402.03	-870.94	-
Level	Intermediate	Intermediate	Intermediate	-

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	51,462.72	52,211.20	52,952.83	53,701.31	54,442.94	55,191.42	55,933.05
Camarilla	53,284.68	53,421.27	53,557.87	53,694.46	53,831.05	53,967.65	54,104.24
Woodie	51,459.30	52,209.49	52,949.41	53,699.60	54,439.52	55,189.71	55,929.63
Fibonacci	52,211.20	52,780.42	53,132.09	53,701.31	54,270.53	54,622.20	55,191.42

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	40,537.59	43,566.93	48,413.38	51,442.72	56,289.17	59,318.51	64,164.96
Camarilla	51,094.00	51,815.95	52,537.89	53,259.84	53,981.79	54,703.74	55,425.68
Woodie	41,446.16	44,021.21	49,321.95	51,897.00	57,197.74	59,772.79	65,073.53
Fibonacci	43,566.93	46,575.48	48,434.17	51,442.72	54,451.27	56,309.96	59,318.51

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	19,896.08	26,455.86	37,454.18	44,013.96	55,012.28	61,572.06	72,570.38
Camarilla	43,624.01	45,233.51	46,843.00	48,452.49	50,061.98	51,671.48	53,280.97
Woodie	22,115.34	27,565.50	39,673.44	45,123.60	57,231.54	62,681.70	74,789.64
Fibonacci	26,455.86	33,163.06	37,306.77	44,013.96	50,721.16	54,864.87	61,572.06

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):	70.86
MACD (12,26,9):	55.4500
Directional Movement:	13.17
AROON (14):	50.00
DEMA (21):	53,841.58
Parabolic SAR (0,02-0,02-0,2):	52,342.56
Elder Ray (13):	752.28
Super Trend (3,10):	52,771.49
Zig ZAG (10):	55,342.01
VORTEX (21):	0.9900
Stochastique (14,3,5):	79.00
TEMA (21):	53,856.36
Williams %R (14):	-0.04
Chande Momentum Oscillator (20):	1,353.24
Repulse (5,40,3):	4.8500
ROCnROLL:	1
TRIX (15,9):	-0.0100
Courbe Coppock:	1.19

MA7:	52,789.08
MA20:	48,021.09
MA50:	40,855.40
MA100:	37,441.29
MAexp7:	53,898.93
MAexp20:	53,771.46
MAexp50:	53,608.68
MAexp100:	53,158.02
Price / MA7:	+4.84%
Price / MA20:	+15.25%
Price / MA50:	+35.46%
Price / MA100:	+47.81%
Price / MAexp7:	+2.68%
Price / MAexp20:	+2.92%
Price / MAexp50:	+3.24%
Price / MAexp100:	+4.11%

Quotes : - Real time data - Cryptocompare

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

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