BITCOIN - BTC/GBP

- GBP (-)

- Real time data - CoinMarketCap

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Type:	Cryptocurrencies
Ticker:	BTCGBP
ISIN:

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

Londinia

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

89%

11%

My opinion

Bullish above 49,804.40 GBP

My targets

61,572.06 GBP (+10.55%)

72,570.38 GBP (+30.29%)

My analysis

BITCOIN - BTC/GBP is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 49,804.40 GBP. The next resistance located at 61,572.06 GBP is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 72,570.38 GBP. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

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

8.9

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

The BITCOIN - BTC/GBP price is 55,697.21 GBP. The price has increased by +3.73% since the last closing and was between 52,224.05 GBP and 55,941.80 GBP. This implies that the price is at +6.65% from its lowest and at -0.44% from its highest.

52,224.05

55,941.80

55,697.21

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

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

The Central Records scanner for higher/lower results shows the following items:

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 Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Daily

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:

Three white soldiers

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price
ProTrendLines	36,231.30	40,044.67	49,804.40	55,697.21
Change (%)	-34.95%	-28.10%	-10.58%	-
Change	-19,465.91	-15,652.54	-5,892.81	-
Level	Minor	Intermediate	Major	-

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	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):	78.12
MACD (12,26,9):	3,968.2600
Directional Movement:	27.23
AROON (14):	100.00
DEMA (21):	54,098.02
Parabolic SAR (0,02-0,02-0,2):	49,154.10
Elder Ray (13):	2,978.56
Super Trend (3,10):	46,603.79
Zig ZAG (10):	55,820.38
VORTEX (21):	1.2200
Stochastique (14,3,5):	95.02
TEMA (21):	55,552.16
Williams %R (14):	-0.97
Chande Momentum Oscillator (20):	6,439.70
Repulse (5,40,3):	8.4700
ROCnROLL:	1
TRIX (15,9):	1.2600
Courbe Coppock:	49.32

MA7:	52,884.08
MA20:	48,063.58
MA50:	40,871.62
MA100:	37,448.53
MAexp7:	53,108.98
MAexp20:	48,997.25
MAexp50:	43,270.46
MAexp100:	38,598.58
Price / MA7:	+5.32%
Price / MA20:	+15.88%
Price / MA50:	+36.27%
Price / MA100:	+48.73%
Price / MAexp7:	+4.87%
Price / MAexp20:	+13.67%
Price / MAexp50:	+28.71%
Price / MAexp100:	+44.29%

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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