WRAPPED BITCOIN - WBTC/USD - 1H - Technical analysis published on 04/22/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 28,025.30 USD
My targets
26,423.00 USD (-3.11%)
24,484.50 USD (-10.21%)
My analysis
WRAPPED BITCOIN - WBTC/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 28,025.30 USD. The next support located at 26,423.00 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 24,484.50 USD. Below this support, sellers could then target 20,239.90 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WRAPPED BITCOIN - WBTC/USD rating 27,269.92 USD. On the day, this instrument lost -3.46% with the lowest point at 27,181.13 USD and the highest point at 28,382.44 USD. The deviation from the price is +0.33% for the low point and -3.92% for the high point.27,181.13
28,382.44
27,269.92
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this WRAPPED BITCOIN - WBTC/USD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 17,766.00 | 20,239.90 | 24,484.50 | 27,269.92 | 28,025.30 | 28,443.20 | 29,247.30 |
| Change (%) | -34.85% | -25.78% | -10.21% | - | +2.77% | +4.30% | +7.25% |
| Change | -9,503.92 | -7,030.02 | -2,785.42 | - | +755.38 | +1,173.28 | +1,977.38 |
| Level | Major | Intermediate | Intermediate | - | 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 | 26,790.90 | 27,408.08 | 27,827.40 | 28,444.58 | 28,863.90 | 29,481.08 | 29,900.40 |
| Camarilla | 27,961.67 | 28,056.69 | 28,151.70 | 28,246.71 | 28,341.72 | 28,436.74 | 28,531.75 |
| Woodie | 26,691.96 | 27,358.62 | 27,728.46 | 28,395.12 | 28,764.96 | 29,431.62 | 29,801.46 |
| Fibonacci | 27,408.08 | 27,804.03 | 28,048.64 | 28,444.58 | 28,840.53 | 29,085.14 | 29,481.08 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25,005.61 | 26,423.00 | 28,397.58 | 29,814.97 | 31,789.55 | 33,206.94 | 35,181.52 |
| Camarilla | 29,439.36 | 29,750.29 | 30,061.22 | 30,372.15 | 30,683.08 | 30,994.01 | 31,304.94 |
| Woodie | 25,284.20 | 26,562.30 | 28,676.17 | 29,954.27 | 32,068.14 | 33,346.24 | 35,460.11 |
| Fibonacci | 26,423.00 | 27,718.74 | 28,519.24 | 29,814.97 | 31,110.71 | 31,911.21 | 33,206.94 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12,803.63 | 16,203.57 | 22,326.33 | 25,726.27 | 31,849.03 | 35,248.97 | 41,371.73 |
| Camarilla | 25,830.36 | 26,703.27 | 27,576.19 | 28,449.10 | 29,322.01 | 30,194.93 | 31,067.84 |
| Woodie | 14,165.05 | 16,884.28 | 23,687.75 | 26,406.98 | 33,210.45 | 35,929.68 | 42,733.15 |
| Fibonacci | 16,203.57 | 19,841.24 | 22,088.60 | 25,726.27 | 29,363.94 | 31,611.30 | 35,248.97 |
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): | 22.26 | |
| MACD (12,26,9): | -288.8400 | |
| Directional Movement: | -33.06 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 27,475.24 | |
| Parabolic SAR (0,02-0,02-0,2): | 27,966.12 | |
| Elder Ray (13): | -439.83 | |
| Super Trend (3,10): | 27,846.54 | |
| Zig ZAG (10): | 27,231.87 | |
| VORTEX (21): | 0.7600 | |
| Stochastique (14,3,5): | 8.92 | |
| TEMA (21): | 27,331.18 | |
| Williams %R (14): | -88.88 | |
| Chande Momentum Oscillator (20): | -707.26 | |
| Repulse (5,40,3): | -0.4000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 4.60 |
| MA7: | 29,307.87 | |
| MA20: | 29,005.61 | |
| MA50: | 26,805.99 | |
| MA100: | 24,793.66 | |
| MAexp7: | 27,448.21 | |
| MAexp20: | 27,834.18 | |
| MAexp50: | 28,310.71 | |
| MAexp100: | 28,831.19 | |
| Price / MA7: | -6.95% | |
| Price / MA20: | -5.98% | |
| Price / MA50: | +1.73% | |
| Price / MA100: | +9.99% | |
| Price / MAexp7: | -0.65% | |
| Price / MAexp20: | -2.03% | |
| Price / MAexp50: | -3.68% | |
| Price / MAexp100: | -5.42% |
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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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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