GRAYSCALE BITCOIN TRUST (BTC) GBTC - Weekly - Technical analysis published on 04/16/2022 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
GRAYSCALE BITCOIN TRUST (BTC) GBTC Chart
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 32.10 USD
My targets
24.63 USD (-13.57%)
18.73 USD (-34.29%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GRAYSCALE BITCOIN TRUST (BTC) GBTC as long as the price remains well below 32.10 USD. The sellers' bearish objective is set at 24.63 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 18.73 USD. In case of crossing, the next objective would be the support located at 17.08 USD.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.2
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This analysis was given by ErnestMoney.
Additional analysis
Quotes
The GRAYSCALE BITCOIN TRUST (BTC) GBTC rating is 28.50 USD. The price is lower by -4.43% over the 5 days and was traded between 27.35 USD and 29.35 USD over the period. The price is currently at +4.20% from its lowest point and -2.90% from its highest point.27.35
29.35
28.50
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Weekly chart of GRAYSCALE BITCOIN TRUST (BTC) GBTC indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : Weekly
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:
Bullish doji star
Type : Bullish
Timeframe : Weekly
Downside gap
Type : Bearish
Timeframe : Weekly
Doji
Type : Neutral
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.20 | 17.08 | 24.07 | 28.50 | 32.10 | 40.95 | 44.97 |
| Change (%) | -71.23% | -40.07% | -15.54% | - | +12.63% | +43.68% | +57.79% |
| Change | -20.30 | -11.42 | -4.43 | - | +3.60 | +12.45 | +16.47 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26.78 | 27.47 | 27.98 | 28.67 | 29.18 | 29.87 | 30.38 |
| Camarilla | 28.17 | 28.28 | 28.39 | 28.50 | 28.61 | 28.72 | 28.83 |
| Woodie | 26.70 | 27.43 | 27.90 | 28.63 | 29.10 | 29.83 | 30.30 |
| Fibonacci | 27.47 | 27.93 | 28.21 | 28.67 | 29.13 | 29.41 | 29.87 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25.76 | 27.68 | 28.75 | 30.67 | 31.74 | 33.66 | 34.73 |
| Camarilla | 29.00 | 29.27 | 29.55 | 29.82 | 30.09 | 30.37 | 30.64 |
| Woodie | 25.34 | 27.47 | 28.33 | 30.46 | 31.32 | 33.45 | 34.31 |
| Fibonacci | 27.68 | 28.82 | 29.53 | 30.67 | 31.81 | 32.52 | 33.66 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14.45 | 18.73 | 24.63 | 28.91 | 34.81 | 39.09 | 44.99 |
| Camarilla | 27.74 | 28.67 | 29.61 | 30.54 | 31.47 | 32.41 | 33.34 |
| Woodie | 15.27 | 19.14 | 25.45 | 29.32 | 35.63 | 39.50 | 45.81 |
| Fibonacci | 18.73 | 22.62 | 25.02 | 28.91 | 32.80 | 35.20 | 39.09 |
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): | 43.50 | |
| MACD (12,26,9): | -2.3900 | |
| Directional Movement: | -7.29 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 28.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.76 | |
| Elder Ray (13): | -1.53 | |
| Super Trend (3,10): | 42.04 | |
| Zig ZAG (10): | 28.50 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 52.93 | |
| TEMA (21): | 26.53 | |
| Williams %R (14): | -42.70 | |
| Chande Momentum Oscillator (20): | 2.92 | |
| Repulse (5,40,3): | -2.4900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -1.1200 | |
| Courbe Coppock: | 26.32 |
| MA7: | 29.04 | |
| MA20: | 30.11 | |
| MA50: | 28.88 | |
| MA100: | 31.88 | |
| MAexp7: | 29.20 | |
| MAexp20: | 31.19 | |
| MAexp50: | 33.07 | |
| MAexp100: | 29.87 | |
| Price / MA7: | -1.86% | |
| Price / MA20: | -5.35% | |
| Price / MA50: | -1.32% | |
| Price / MA100: | -10.60% | |
| Price / MAexp7: | -2.40% | |
| Price / MAexp20: | -8.62% | |
| Price / MAexp50: | -13.82% | |
| Price / MAexp100: | -4.59% |
Quotes :
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15 min delayed data
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NASDAQ OTCBB
This member declared not having a position on this financial instrument or a related financial instrument.
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