BICONOMY - BICO/USD - 1H - Technical analysis published on 06/11/2024 (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:
Bearish
Technical indicators
56%
11%
33%
My opinion
Bearish under 0.596818 USD
My targets
0.548995 USD (-3.47%)
0.507677 USD (-10.73%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.596818 USD remains possible. It is advisable to trade BICONOMY - BICO/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.596818 USD. The next bearish objective for sellers is set at 0.548995 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.507677 USD. In case of crossing, the next objective would be the support located at 0.471604 USD. PS: if there is a bullish break in the resistance located at 0.596818 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
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 BICONOMY - BICO/USD rating is 0.568715 USD. The price has increased by +2.56% since the last closing and was traded between 0.536458 USD and 0.568890 USD over the period. The price is currently at +6.01% from its lowest and -0.03% from its highest.0.536458
0.568890
0.568715
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of BICONOMY - BICO/USD indicates that the overall trend is bearish. The signals given by moving averages are 75.00% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 10 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.443380 | 0.471604 | 0.548995 | 0.568715 | 0.568984 | 0.596818 | 0.631145 |
| Change (%) | -22.04% | -17.08% | -3.47% | - | +0.05% | +4.94% | +10.98% |
| Change | -0.125335 | -0.097111 | -0.019720 | - | +0.000269 | +0.028103 | +0.062430 |
| Level | Major | Minor | Intermediate | - | Major | 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 | 0.369376 | 0.460143 | 0.507326 | 0.598093 | 0.645276 | 0.736043 | 0.783226 |
| Camarilla | 0.516573 | 0.529218 | 0.541864 | 0.554509 | 0.567154 | 0.579800 | 0.592445 |
| Woodie | 0.347584 | 0.449247 | 0.485534 | 0.587197 | 0.623484 | 0.725147 | 0.761434 |
| Fibonacci | 0.460143 | 0.512840 | 0.545396 | 0.598093 | 0.650790 | 0.683346 | 0.736043 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.391086 | 0.431345 | 0.507677 | 0.547936 | 0.624268 | 0.664527 | 0.740859 |
| Camarilla | 0.551947 | 0.562634 | 0.573322 | 0.584009 | 0.594697 | 0.605384 | 0.616072 |
| Woodie | 0.409123 | 0.440363 | 0.525714 | 0.556954 | 0.642305 | 0.673545 | 0.758896 |
| Fibonacci | 0.431345 | 0.475883 | 0.503398 | 0.547936 | 0.592474 | 0.619989 | 0.664527 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.186067 | 0.290105 | 0.420599 | 0.524637 | 0.655131 | 0.759169 | 0.889663 |
| Camarilla | 0.486597 | 0.508096 | 0.529594 | 0.551093 | 0.572592 | 0.594091 | 0.615589 |
| Woodie | 0.199295 | 0.296719 | 0.433827 | 0.531251 | 0.668359 | 0.765783 | 0.902891 |
| Fibonacci | 0.290105 | 0.379696 | 0.435046 | 0.524637 | 0.614228 | 0.669578 | 0.759169 |
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): | 43.47 | |
| MACD (12,26,9): | -0.0126 | |
| Directional Movement: | 0.378257 | |
| AROON (14): | -42.857143 | |
| DEMA (21): | 0.547988 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.538829 | |
| Elder Ray (13): | -0.000572 | |
| Super Trend (3,10): | 0.583894 | |
| Zig ZAG (10): | 0.560817 | |
| VORTEX (21): | 0.9381 | |
| Stochastique (14,3,5): | 71.47 | |
| TEMA (21): | 0.545451 | |
| Williams %R (14): | -27.29 | |
| Chande Momentum Oscillator (20): | -0.002035 | |
| Repulse (5,40,3): | 0.6712 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.4295 | |
| Courbe Coppock: | 4.40 |
| MA7: | 0.575214 | |
| MA20: | 0.569676 | |
| MA50: | 0.514627 | |
| MA100: | 0.561817 | |
| MAexp7: | 0.557561 | |
| MAexp20: | 0.566620 | |
| MAexp50: | 0.584301 | |
| MAexp100: | 0.584637 | |
| Price / MA7: | -1.13% | |
| Price / MA20: | -0.17% | |
| Price / MA50: | +10.51% | |
| Price / MA100: | +1.23% | |
| Price / MAexp7: | +2.00% | |
| Price / MAexp20: | +0.37% | |
| Price / MAexp50: | -2.67% | |
| Price / MAexp100: | -2.72% |
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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