WRAPPED BITCOIN - WBTC/USD - 1H - Technical analysis published on 10/22/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
11%
44%
44%
My opinion
Bullish above 29,500.47 USD
My targets
30,524.60 USD (+1.91%)
31,514.63 USD (+5.22%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on WRAPPED BITCOIN - WBTC/USD. As long as you are above the support located at 29,500.47 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 30,524.60 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 31,514.63 USD as an objective. Crossing it would then enable buyers to target 40,588.60 USD. If the support 29,500.47 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
Technical indicators are opposing the general bullish 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
10
2.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WRAPPED BITCOIN - WBTC/USD rating is 29,952.57 USD. The price registered a decrease of -0.04% on the session and was between 29,800.10 USD and 30,376.00 USD. This implies that the price is at +0.51% from its lowest and at -1.39% from its highest.29,800.10
30,376.00
29,952.57
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WRAPPED BITCOIN - WBTC/USD:
Near a 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 WRAPPED BITCOIN - WBTC/USD in 1H shows an overall bullish trend. The signals given by moving averages are 75.00% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, only 8 technical indicators out of 18 studied are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
Three white soldiers
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 28,892.36 | 29,500.47 | 29,946.92 | 29,952.57 | 30,524.60 | 31,514.63 | 40,588.60 |
| Change (%) | -3.54% | -1.51% | -0.02% | - | +1.91% | +5.22% | +35.51% |
| Change | -1,060.21 | -452.10 | -5.65 | - | +572.03 | +1,562.06 | +10,636.03 |
| Level | Minor | Minor | Minor | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 28,628.79 | 29,057.29 | 29,511.19 | 29,939.69 | 30,393.59 | 30,822.09 | 31,275.99 |
| Camarilla | 29,722.42 | 29,803.31 | 29,884.19 | 29,965.08 | 30,045.97 | 30,126.85 | 30,207.74 |
| Woodie | 28,641.48 | 29,063.64 | 29,523.88 | 29,946.04 | 30,406.28 | 30,828.44 | 31,288.68 |
| Fibonacci | 29,057.29 | 29,394.37 | 29,602.62 | 29,939.69 | 30,276.77 | 30,485.02 | 30,822.09 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23,961.22 | 25,326.36 | 27,645.72 | 29,010.86 | 31,330.22 | 32,695.36 | 35,014.72 |
| Camarilla | 28,951.84 | 29,289.59 | 29,627.33 | 29,965.08 | 30,302.83 | 30,640.57 | 30,978.32 |
| Woodie | 24,438.33 | 25,564.92 | 28,122.83 | 29,249.42 | 31,807.33 | 32,933.92 | 35,491.83 |
| Fibonacci | 25,326.36 | 26,733.84 | 27,603.38 | 29,010.86 | 30,418.34 | 31,287.88 | 32,695.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22,987.90 | 23,971.84 | 25,476.42 | 26,460.36 | 27,964.94 | 28,948.88 | 30,453.46 |
| Camarilla | 26,296.66 | 26,524.77 | 26,752.89 | 26,981.00 | 27,209.11 | 27,437.23 | 27,665.34 |
| Woodie | 23,248.22 | 24,102.00 | 25,736.74 | 26,590.52 | 28,225.26 | 29,079.04 | 30,713.78 |
| Fibonacci | 23,971.84 | 24,922.46 | 25,509.75 | 26,460.36 | 27,410.98 | 27,998.27 | 28,948.88 |
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): | 49.91 | |
| MACD (12,26,9): | 36.5300 | |
| Directional Movement: | 15.98 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 30,038.88 | |
| Parabolic SAR (0,02-0,02-0,2): | 30,233.55 | |
| Elder Ray (13): | -46.92 | |
| Super Trend (3,10): | 29,553.05 | |
| Zig ZAG (10): | 29,929.06 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 21.39 | |
| TEMA (21): | 29,946.45 | |
| Williams %R (14): | -77.61 | |
| Chande Momentum Oscillator (20): | -75.43 | |
| Repulse (5,40,3): | 0.3500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 0.75 |
| MA7: | 29,082.73 | |
| MA20: | 28,015.53 | |
| MA50: | 27,038.46 | |
| MA100: | 27,719.72 | |
| MAexp7: | 29,958.78 | |
| MAexp20: | 29,966.20 | |
| MAexp50: | 29,744.09 | |
| MAexp100: | 29,317.40 | |
| Price / MA7: | +2.99% | |
| Price / MA20: | +6.91% | |
| Price / MA50: | +10.78% | |
| Price / MA100: | +8.06% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | -0.05% | |
| Price / MAexp50: | +0.70% | |
| Price / MAexp100: | +2.17% |
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.
About author
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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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