BITCOIN - BTC/USDT
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%
0%
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
0
10
8.9

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:
15 min. 1H Weekly

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.

Central Gaps

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:

Central Records

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:

Central Indicators

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:

Central Indicators

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:

Central Indicators

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:

Central Patterns

Near resistance of channel

Type : Bearish

Timeframe : Daily



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


ProTrendLines
S3
S2
S1
R1
R2
Price


S3S2S1PriceR1R2
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
Standard45,963.8946,400.4047,075.3647,511.8748,186.8348,623.3449,298.30
Camarilla47,444.6747,546.5547,648.4447,750.3247,852.2147,954.0948,055.97
Woodie46,083.1246,460.0147,194.5947,571.4848,306.0648,682.9549,417.53
Fibonacci46,400.4046,824.9847,087.2947,511.8747,936.4548,198.7648,623.34


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard38,015.1940,137.4043,943.8646,066.0749,872.5351,994.7455,801.20
Camarilla46,119.9446,663.4047,206.8647,750.3248,293.7848,837.2449,380.70
Woodie38,857.3240,558.4644,785.9946,487.1350,714.6652,415.8056,643.33
Fibonacci40,137.4042,402.1543,801.3246,066.0748,330.8249,729.9951,994.74


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard27,373.1032,964.4437,772.8443,364.1848,172.5853,763.9258,572.32
Camarilla39,721.3240,674.6341,627.9442,581.2543,534.5644,487.8745,441.18
Woodie26,981.6432,768.7137,381.3843,168.4547,781.1253,568.1958,180.86
Fibonacci32,964.4436,937.1439,391.4843,364.1847,336.8849,791.2253,763.92

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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