BTCUP - BTCUP/USDT

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Type:	Cryptocurrencies
Ticker:	BTCUPUSDT
ISIN:

BTCUP - BTCUP/USDT - 1H - Technical analysis published on 07/22/2023 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

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BTCUP - BTCUP/USDT Chart

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

44%

My opinion

Bearish under 6.34 USDT

My targets

6.22 USDT (-0.64%)

5.73 USDT (-8.47%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BTCUP - BTCUP/USDT as long as the price remains well below 6.34 USDT. The sellers' bearish objective is set at 6.22 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 5.73 USDT. In case of crossing, the next objective would be the support located at 4.67 USDT. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

6.1

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 MushroomBadger.

Additional analysis

Quotes

BTCUP - BTCUP/USDT rating 6.26 USDT. On the day, this instrument lost -0.32% with the lowest point at 6.26 USDT and the highest point at 6.32 USDT. The deviation from the price is 0% for the low point and -0.95% for the high point.

6.26

6.32

6.26

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

Bearish opening

Type : Bearish

Timeframe : Openning

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, which identifies the highest / lowest, has detected an element:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this BTCUP - BTCUP/USDT chart shows a sharp bearish trend. 82.14% 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 several bearish and bullish signals:

Bullish trend reversal : Moving Average 50

Type : Bullish

Timeframe : 1 hour

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : 1 hour

Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : 1 hour

In fact, only 8 technical indicators out of 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour

MACD crosses DOWN its Moving Average

Type : Bearish

Timeframe : 1 hour

Ichimoku : price is under the cloud

Type : Bearish

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : 1 hour

Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour

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

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	4.67	5.73	6.22	6.26	6.34	6.81	7.01
Change (%)	-25.40%	-8.47%	-0.64%	-	+1.28%	+8.79%	+11.98%
Change	-1.59	-0.53	-0.04	-	+0.08	+0.55	+0.75
Level	Major	Major	Intermediate	-	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	6.09	6.15	6.22	6.28	6.35	6.41	6.48
Camarilla	6.24	6.26	6.27	6.28	6.29	6.30	6.32
Woodie	6.09	6.15	6.22	6.28	6.35	6.41	6.48
Fibonacci	6.15	6.20	6.23	6.28	6.33	6.36	6.41

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	5.34	5.83	6.14	6.63	6.94	7.43	7.74
Camarilla	6.24	6.31	6.39	6.46	6.53	6.61	6.68
Woodie	5.26	5.79	6.06	6.59	6.86	7.39	7.66
Fibonacci	5.83	6.13	6.32	6.63	6.93	7.12	7.43

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.63	3.58	5.09	6.04	7.55	8.50	10.01
Camarilla	5.91	6.14	6.37	6.59	6.82	7.04	7.27
Woodie	2.90	3.72	5.36	6.18	7.82	8.64	10.28
Fibonacci	3.58	4.52	5.10	6.04	6.98	7.56	8.50

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):	45.58
MACD (12,26,9):	0.0000
Directional Movement:	2.11
AROON (14):	-35.72
DEMA (21):	6.28
Parabolic SAR (0,02-0,02-0,2):	6.34
Elder Ray (13):	-0.01
Super Trend (3,10):	6.33
Zig ZAG (10):	6.26
VORTEX (21):	0.9800
Stochastique (14,3,5):	44.44
TEMA (21):	6.28
Williams %R (14):	-83.33
Chande Momentum Oscillator (20):	-0.01
Repulse (5,40,3):	-0.3500
ROCnROLL:	2
TRIX (15,9):	0.0000
Courbe Coppock:	0.46

MA7:	6.32
MA20:	6.48
MA50:	6.01
MA100:	5.89
MAexp7:	6.28
MAexp20:	6.28
MAexp50:	6.29
MAexp100:	6.31
Price / MA7:	-0.95%
Price / MA20:	-3.40%
Price / MA50:	+4.16%
Price / MA100:	+6.28%
Price / MAexp7:	-0.32%
Price / MAexp20:	-0.32%
Price / MAexp50:	-0.48%
Price / MAexp100:	-0.79%

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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