BITCOIN - BTC/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCUSDT
ISIN:

BITCOIN - BTC/USDT - Daily - Technical analysis published on 05/15/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Bullish

Technical indicators

61%

39%

My opinion

Bullish above 58,353.77 USDT

My targets

66,817.67 USDT (+3.12%)

71,627.11 USDT (+10.54%)

My analysis

A bullish trend on BITCOIN - BTC/USDT both in substance and in the short term. A purchase could be considered as long as the price remains above 58,353.77 USDT. Each resistance break is a strong signal that the current trend will continue. The first bullish objective would be 66,817.67 USDT. Then the price could move towards 71,627.11 USDT. Be careful, a return below 58,353.77 USDT would be a sign of the trend weakening and a possible correction phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend could be riskier.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

5.2

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 mh572. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The BITCOIN - BTC/USDT rating is 64,798.14 USDT. On the day, this instrument gained +5.23% and was traded between 61,339.96 USDT and 65,123.53 USDT over the period. The price is currently at +5.64% from its lowest and -0.50% from its highest.

61,339.96

65,123.53

64,798.14

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner for higher/lower results shows an item:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of BITCOIN - BTC/USDT indicates that the overall trend is bullish. 67.86% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Daily

An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

RSI indicator is back over 50

Type : Bullish

Timeframe : Daily

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:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	50,745.69	58,353.77	63,997.23	64,798.14	66,817.67	71,627.11
Change (%)	-21.69%	-9.95%	-1.24%	-	+3.12%	+10.54%
Change	-14,052.45	-6,444.37	-800.91	-	+2,019.53	+6,828.97
Level	Minor	Intermediate	Intermediate	-	Minor	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	58,802.85	59,972.29	60,774.15	61,943.59	62,745.45	63,914.89	64,716.75
Camarilla	61,033.89	61,214.60	61,395.30	61,576.00	61,756.70	61,937.41	62,118.11
Woodie	58,619.05	59,880.40	60,590.35	61,851.70	62,561.65	63,823.00	64,532.95
Fibonacci	59,972.29	60,725.33	61,190.56	61,943.59	62,696.63	63,161.86	63,914.89

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	53,579.64	56,896.80	58,862.53	62,179.69	64,145.42	67,462.58	69,428.31
Camarilla	59,375.48	59,859.74	60,344.01	60,828.27	61,312.54	61,796.80	62,281.07
Woodie	52,903.94	56,558.94	58,186.83	61,841.83	63,469.72	67,124.72	68,752.61
Fibonacci	56,896.80	58,914.86	60,161.62	62,179.69	64,197.75	65,444.51	67,462.58

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	42,106.96	50,658.51	55,666.88	64,218.43	69,226.80	77,778.35	82,786.72
Camarilla	56,946.28	58,189.28	59,432.27	60,675.26	61,918.25	63,161.25	64,404.24
Woodie	40,335.38	49,772.72	53,895.30	63,332.64	67,455.22	76,892.56	81,015.14
Fibonacci	50,658.51	55,838.40	59,038.54	64,218.43	69,398.32	72,598.46	77,778.35

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):	54.73
MACD (12,26,9):	-550.3500
Directional Movement:	5.39
AROON (14):	35.71
DEMA (21):	61,872.82
Parabolic SAR (0,02-0,02-0,2):	60,671.97
Elder Ray (13):	705.47
Super Trend (3,10):	67,373.67
Zig ZAG (10):	64,843.97
VORTEX (21):	0.9600
Stochastique (14,3,5):	73.05
TEMA (21):	61,983.56
Williams %R (14):	-8.03
Chande Momentum Oscillator (20):	1,632.78
Repulse (5,40,3):	6.0600
ROCnROLL:	1
TRIX (15,9):	-0.2200
Courbe Coppock:	0.87

MA7:	62,215.91
MA20:	62,285.52
MA50:	65,162.64
MA100:	62,362.30
MAexp7:	62,629.52
MAexp20:	62,788.91
MAexp50:	63,365.09
MAexp100:	60,396.70
Price / MA7:	+4.15%
Price / MA20:	+4.03%
Price / MA50:	-0.56%
Price / MA100:	+3.91%
Price / MAexp7:	+3.46%
Price / MAexp20:	+3.20%
Price / MAexp50:	+2.26%
Price / MAexp100:	+7.29%

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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