BINARYX - BNX/USDT - 1H - Technical analysis published on 05/08/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
39%
11%
50%
My opinion
Bearish under 0.989069 USDT
My targets
0.945119 USDT (-1.00%)
0.920113 USDT (-3.62%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BINARYX - BNX/USDT as long as the price remains well below 0.989069 USDT. The next bearish objective for sellers is set at 0.945119 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.920113 USDT. If there is any crossing, the next objective would be the support located at 0.600103 USDT. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
3.8
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This analysis was given by mh572. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BINARYX - BNX/USDT price is 0.954705 USDT. The price is lower by -1.75% since the last closing and was between 0.916336 USDT and 0.994440 USDT. This implies that the price is at +4.19% from its lowest and at -4.00% from its highest.0.916336
0.994440
0.954705
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
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 BINARYX - BNX/USDT chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
The Central Indicators scanner found this result concerning these indicators:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
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
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.600103 | 0.920113 | 0.945119 | 0.954705 | 0.989069 | 1.019615 | 1.044219 |
| Change (%) | -37.14% | -3.62% | -1.00% | - | +3.60% | +6.80% | +9.38% |
| Change | -0.354602 | -0.034592 | -0.009586 | - | +0.034364 | +0.064910 | +0.089514 |
| Level | Intermediate | Minor | Major | - | Intermediate | Major | 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 | 0.886914 | 0.920729 | 0.946226 | 0.980041 | 1.005538 | 1.039353 | 1.064850 |
| Camarilla | 0.955411 | 0.960848 | 0.966285 | 0.971722 | 0.977159 | 0.982596 | 0.988033 |
| Woodie | 0.882754 | 0.918650 | 0.942066 | 0.977962 | 1.001378 | 1.037274 | 1.060690 |
| Fibonacci | 0.920729 | 0.943387 | 0.957384 | 0.980041 | 1.002699 | 1.016696 | 1.039353 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.673430 | 0.784130 | 0.878508 | 0.989208 | 1.083586 | 1.194286 | 1.288664 |
| Camarilla | 0.916490 | 0.935288 | 0.954087 | 0.972886 | 0.991685 | 1.010484 | 1.029283 |
| Woodie | 0.665269 | 0.780050 | 0.870347 | 0.985128 | 1.075425 | 1.190206 | 1.280503 |
| Fibonacci | 0.784130 | 0.862470 | 0.910868 | 0.989208 | 1.067548 | 1.115946 | 1.194286 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.005995 | 0.255736 | 0.600427 | 0.850168 | 1.194859 | 1.444600 | 1.789291 |
| Camarilla | 0.781650 | 0.836140 | 0.890629 | 0.945119 | 0.999609 | 1.054098 | 1.108588 |
| Woodie | 0.053471 | 0.279474 | 0.647903 | 0.873906 | 1.242335 | 1.468338 | 1.836767 |
| Fibonacci | 0.255736 | 0.482809 | 0.623095 | 0.850168 | 1.077241 | 1.217527 | 1.444600 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 50.22 | |
| MACD (12,26,9): | -0.0012 | |
| Directional Movement: | 0.374535 | |
| AROON (14): | 28.571429 | |
| DEMA (21): | 0.956804 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.936617 | |
| Elder Ray (13): | 0.001405 | |
| Super Trend (3,10): | 0.922113 | |
| Zig ZAG (10): | 0.959899 | |
| VORTEX (21): | 0.9480 | |
| Stochastique (14,3,5): | 71.35 | |
| TEMA (21): | 0.958483 | |
| Williams %R (14): | -37.76 | |
| Chande Momentum Oscillator (20): | 0.019804 | |
| Repulse (5,40,3): | 0.2553 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0724 | |
| Courbe Coppock: | 2.18 |
| MA7: | 0.966960 | |
| MA20: | 0.922728 | |
| MA50: | 0.735834 | |
| MA100: | 0.548972 | |
| MAexp7: | 0.961273 | |
| MAexp20: | 0.960016 | |
| MAexp50: | 0.964735 | |
| MAexp100: | 0.970115 | |
| Price / MA7: | -1.27% | |
| Price / MA20: | +3.47% | |
| Price / MA50: | +29.74% | |
| Price / MA100: | +73.91% | |
| Price / MAexp7: | -0.68% | |
| Price / MAexp20: | -0.55% | |
| Price / MAexp50: | -1.04% | |
| Price / MAexp100: | -1.59% |
Quotes :
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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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