BITCOIN - BTC/USDT

- USDT (-)

- Real time data - CoinMarketCap

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Type:	Cryptocurrencies
Ticker:	BTCUSDT
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BITCOIN - BTC/USDT - Daily - Technical analysis published on 02/11/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

89%

11%

My opinion

Bullish above 44,055.04 USDT

My targets

52,654.30 USDT (+9.43%)

58,572.32 USDT (+21.72%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BITCOIN - BTC/USDT as long as the price remains well above 44,055.04 USDT. The buyers' bullish objective is set at 52,654.30 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 58,572.32 USDT. If there is any crossing, the next objective would be the resistance located at 67,514.20 USDT. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

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

Force

8.9

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 MOHAMMED ALAMERI. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BITCOIN - BTC/USDT rating 48,118.84 USDT. The price has increased by +0.77% since the last closing with the lowest point at 47,569.22 USDT and the highest point at 48,586.55 USDT. The deviation from the price is +1.16% for the low point and -0.96% for the high point.

47,569.22

48,586.55

48,118.84

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of BITCOIN - BTC/USDT in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:

Moving Average bullish crossovers : MA20 & MA50

Type : Bullish

Timeframe : Daily

Moving Average bullish crossovers : AMA20 & AMA50

Type : Bullish

Timeframe : Daily

Moving Average bearish crossovers : AMA50 & AMA100

Type : Bearish

Timeframe : Daily

An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near resistance of channel

Type : Bearish

Timeframe : Daily

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	40,636.30	44,055.04	47,434.00	48,118.84	52,654.30	67,514.20
Change (%)	-15.55%	-8.45%	-1.42%	-	+9.43%	+40.31%
Change	-7,482.54	-4,063.80	-684.84	-	+4,535.46	+19,395.36
Level	Intermediate	Intermediate	Major	-	Minor	Major

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	45,963.89	46,400.40	47,075.36	47,511.87	48,186.83	48,623.34	49,298.30
Camarilla	47,444.67	47,546.55	47,648.44	47,750.32	47,852.21	47,954.09	48,055.97
Woodie	46,083.12	46,460.01	47,194.59	47,571.48	48,306.06	48,682.95	49,417.53
Fibonacci	46,400.40	46,824.98	47,087.29	47,511.87	47,936.45	48,198.76	48,623.34

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	38,015.19	40,137.40	43,943.86	46,066.07	49,872.53	51,994.74	55,801.20
Camarilla	46,119.94	46,663.40	47,206.86	47,750.32	48,293.78	48,837.24	49,380.70
Woodie	38,857.32	40,558.46	44,785.99	46,487.13	50,714.66	52,415.80	56,643.33
Fibonacci	40,137.40	42,402.15	43,801.32	46,066.07	48,330.82	49,729.99	51,994.74

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	27,373.10	32,964.44	37,772.84	43,364.18	48,172.58	53,763.92	58,572.32
Camarilla	39,721.32	40,674.63	41,627.94	42,581.25	43,534.56	44,487.87	45,441.18
Woodie	26,981.64	32,768.71	37,381.38	43,168.45	47,781.12	53,568.19	58,180.86
Fibonacci	32,964.44	36,937.14	39,391.48	43,364.18	47,336.88	49,791.22	53,763.92

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):	74.07
MACD (12,26,9):	1,166.0600
Directional Movement:	22.59
AROON (14):	100.00
DEMA (21):	45,379.66
Parabolic SAR (0,02-0,02-0,2):	43,033.56
Elder Ray (13):	3,211.95
Super Trend (3,10):	43,981.00
Zig ZAG (10):	48,097.66
VORTEX (21):	1.2200
Stochastique (14,3,5):	90.10
TEMA (21):	46,414.47
Williams %R (14):	-7.28
Chande Momentum Oscillator (20):	5,155.01
Repulse (5,40,3):	5.0600
ROCnROLL:	1
TRIX (15,9):	0.1400
Courbe Coppock:	19.75

MA7:	45,490.74
MA20:	43,249.31
MA50:	43,249.05
MA100:	41,320.92
MAexp7:	46,048.91
MAexp20:	44,173.17
MAexp50:	42,935.94
MAexp100:	40,691.17
Price / MA7:	+5.78%
Price / MA20:	+11.26%
Price / MA50:	+11.26%
Price / MA100:	+16.45%
Price / MAexp7:	+4.50%
Price / MAexp20:	+8.93%
Price / MAexp50:	+12.07%
Price / MAexp100:	+18.25%

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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