BITCOIN - BTC/GBP - Weekly - Technical analysis published on 03/12/2024 (GMT)
- 89
- 0
- Timeframe : Weekly
- - Analysis generated on
- Status : IN PROGRESS...
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above
My targets
()
()
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 . The buyers' bullish objective is set at . A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at . 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
0
10
8.9
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 56,310.71 GBP. The price is up +8.47% over 5 days and has been traded over the last 5 days between 51,471.14 GBP and 56,526.58 GBP. This implies that the 5 day price is +9.40% from its lowest point and -0.38% from its highest point.51,471.14
56,526.58
56,310.71
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:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of BITCOIN - BTC/GBP indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : Weekly
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Weekly
CCI indicator: bearish divergence
Type : Bearish
Timeframe : Weekly
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 24,563.20 | 36,231.30 | 49,804.40 | 56,310.71 |
| Change (%) | -56.38% | -35.66% | -11.55% | - |
| Change | -31,747.51 | -20,079.41 | -6,506.31 | - |
| Level | Intermediate | Intermediate | Major | - |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 48,692.94 | 50,458.50 | 53,352.21 | 55,117.77 | 58,011.48 | 59,777.04 | 62,670.75 |
| Camarilla | 54,964.63 | 55,391.73 | 55,818.83 | 56,245.93 | 56,673.03 | 57,100.13 | 57,527.23 |
| Woodie | 49,257.03 | 50,740.54 | 53,916.30 | 55,399.81 | 58,575.57 | 60,059.08 | 63,234.84 |
| Fibonacci | 50,458.50 | 52,238.34 | 53,337.93 | 55,117.77 | 56,897.61 | 57,997.20 | 59,777.04 |
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): | 87.79 | |
| MACD (12,26,9): | 6,516.9100 | |
| Directional Movement: | 45.32 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 45,852.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 34,312.92 | |
| Elder Ray (13): | 12,755.92 | |
| Super Trend (3,10): | 41,899.20 | |
| Zig ZAG (10): | 56,281.65 | |
| VORTEX (21): | 1.3700 | |
| Stochastique (14,3,5): | 96.50 | |
| TEMA (21): | 49,702.77 | |
| Williams %R (14): | -2.23 | |
| Chande Momentum Oscillator (20): | 22,481.90 | |
| Repulse (5,40,3): | 29.5100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 2.2700 | |
| Courbe Coppock: | 89.94 |
| MA7: | 53,826.06 | |
| MA20: | 48,848.63 | |
| MA50: | 41,383.87 | |
| MA100: | 37,700.95 | |
| MAexp7: | 46,783.47 | |
| MAexp20: | 38,172.22 | |
| MAexp50: | 30,857.62 | |
| MAexp100: | 27,021.74 | |
| Price / MA7: | +4.62% | |
| Price / MA20: | +15.28% | |
| Price / MA50: | +36.07% | |
| Price / MA100: | +49.36% | |
| Price / MAexp7: | +20.36% | |
| Price / MAexp20: | +47.52% | |
| Price / MAexp50: | +82.49% | |
| Price / MAexp100: | +108.39% |
Quotes :
-
Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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