BITCOIN - BTC/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCUSD
ISIN:

BITCOIN - BTC/USD - Daily - Technical analysis published on 05/08/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Neutral

Technical indicators

44%

17%

39%

My opinion

Bearish under 67,554.70 USD

My targets

61,279.96 USD (-2.55%)

50,742.68 USD (-19.31%)

My analysis

The current short-term bearish trend is expected to quickly fix the basic bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for BITCOIN - BTC/USD as long as the price remains well below 67,554.70 USD. The sellers' bearish objective is set at 61,279.96 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 50,742.68 USD. If there is any crossing, the next objective would be the support located at 47,352.27 USD.

Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.

Force

0.2

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 jann1414. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The BITCOIN - BTC/USD rating is 62,886.50 USD. On the day, this instrument gained +0.91% with the lowest point at 62,126.28 USD and the highest point at 62,952.13 USD. The deviation from the price is +1.22% for the low point and -0.10% for the high point.

62,126.28

62,952.13

62,886.50

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:

Technical

A technical analysis in Daily of this BITCOIN - BTC/USD chart shows a neutral trend. The trend could quickly turn bearish due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is slight given the direction of the technical indicators.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Bullish harami

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	47,352.27	50,742.68	61,279.96	62,886.50	67,554.70	73,117.83
Change (%)	-24.70%	-19.31%	-2.55%	-	+7.42%	+16.27%
Change	-15,534.23	-12,143.82	-1,606.54	-	+4,668.20	+10,231.33
Level	Intermediate	Minor	Major	-	Major	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	59,496.38	60,890.01	61,606.39	63,000.02	63,716.40	65,110.03	65,826.41
Camarilla	61,742.51	61,935.93	62,129.34	62,322.76	62,516.18	62,709.60	62,903.01
Woodie	59,157.75	60,720.70	61,267.76	62,830.71	63,377.77	64,940.72	65,487.78
Fibonacci	60,890.01	61,696.04	62,194.00	63,000.02	63,806.05	64,304.01	65,110.03

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	50,503.41	53,508.80	58,705.88	61,711.27	66,908.35	69,913.74	75,110.82
Camarilla	61,647.27	62,399.16	63,151.06	63,902.95	64,654.84	65,406.74	66,158.63
Woodie	51,599.25	54,056.72	59,801.72	62,259.19	68,004.19	70,461.66	76,206.66
Fibonacci	53,508.80	56,642.15	58,577.93	61,711.27	64,844.62	66,780.40	69,913.74

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	41,941.71	50,521.84	55,575.35	64,155.48	69,208.99	77,789.12	82,842.63
Camarilla	56,879.61	58,129.36	59,379.11	60,628.86	61,878.61	63,128.36	64,378.11
Woodie	40,178.40	49,640.19	53,812.04	63,273.83	67,445.68	76,907.47	81,079.32
Fibonacci	50,521.84	55,729.89	58,947.43	64,155.48	69,363.53	72,581.07	77,789.12

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):	47.34
MACD (12,26,9):	-862.4700
Directional Movement:	-4.13
AROON (14):	-50.00
DEMA (21):	62,124.28
Parabolic SAR (0,02-0,02-0,2):	57,982.93
Elder Ray (13):	-359.54
Super Trend (3,10):	67,446.64
Zig ZAG (10):	62,908.98
VORTEX (21):	1.0400
Stochastique (14,3,5):	62.83
TEMA (21):	61,741.50
Williams %R (14):	-28.74
Chande Momentum Oscillator (20):	-834.96
Repulse (5,40,3):	-0.5500
ROCnROLL:	-1
TRIX (15,9):	-0.2600
Courbe Coppock:	6.83

MA7:	62,619.76
MA20:	63,358.03
MA50:	65,853.52
MA100:	61,037.53
MAexp7:	62,733.26
MAexp20:	63,347.71
MAexp50:	63,779.14
MAexp100:	60,178.70
Price / MA7:	+0.43%
Price / MA20:	-0.74%
Price / MA50:	-4.51%
Price / MA100:	+3.03%
Price / MAexp7:	+0.24%
Price / MAexp20:	-0.73%
Price / MAexp50:	-1.40%
Price / MAexp100:	+4.50%

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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