BITCOIN - BTC/USDT - 1H - Technical analysis published on 02/23/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 51,663.77 USDT
My targets
50,639.81 USDT (-0.88%)
49,774.60 USDT (-2.57%)
My analysis
BITCOIN - BTC/USDT is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 51,663.77 USDT. The next support located at 50,639.81 USDT is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 49,774.60 USDT. Below this support, sellers could then target 48,315.70 USDT. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5.7
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This analysis was given by Andrii. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USDT price is 51,087.63 USDT. The price is lower by -0.40% since the last closing and was traded between 50,634.98 USDT and 51,545.83 USDT over the period. The price is currently at +0.89% from its lowest and -0.89% from its highest.50,634.98
51,545.83
51,087.63
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USDT:
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 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong 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, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 6 are neutral and 5 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bullish harami
Type : Bullish
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 48,315.70 | 49,774.60 | 50,639.81 | 51,087.63 | 51,312.51 | 51,663.77 | 52,032.68 |
| Change (%) | -5.43% | -2.57% | -0.88% | - | +0.44% | +1.13% | +1.85% |
| Change | -2,771.93 | -1,313.03 | -447.82 | - | +224.88 | +576.14 | +945.05 |
| Level | Minor | Minor | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 49,699.82 | 50,320.77 | 50,806.41 | 51,427.36 | 51,913.00 | 52,533.95 | 53,019.59 |
| Camarilla | 50,987.73 | 51,089.17 | 51,190.60 | 51,292.04 | 51,393.48 | 51,494.92 | 51,596.35 |
| Woodie | 49,632.16 | 50,286.94 | 50,738.75 | 51,393.53 | 51,845.34 | 52,500.12 | 52,951.93 |
| Fibonacci | 50,320.77 | 50,743.49 | 51,004.65 | 51,427.36 | 51,850.08 | 52,111.24 | 52,533.95 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 43,293.70 | 45,431.46 | 48,538.13 | 50,675.89 | 53,782.56 | 55,920.32 | 59,026.99 |
| Camarilla | 50,202.58 | 50,683.32 | 51,164.06 | 51,644.80 | 52,125.54 | 52,606.28 | 53,087.02 |
| Woodie | 43,778.16 | 45,673.69 | 49,022.59 | 50,918.12 | 54,267.02 | 56,162.55 | 59,511.45 |
| Fibonacci | 45,431.46 | 47,434.83 | 48,672.52 | 50,675.89 | 52,679.26 | 53,916.95 | 55,920.32 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 45.89 | |
| MACD (12,26,9): | -117.5800 | |
| Directional Movement: | -5.01 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 51,020.08 | |
| Parabolic SAR (0,02-0,02-0,2): | 51,324.93 | |
| Elder Ray (13): | -250.30 | |
| Super Trend (3,10): | 51,755.90 | |
| Zig ZAG (10): | 51,105.49 | |
| VORTEX (21): | 0.8600 | |
| Stochastique (14,3,5): | 42.29 | |
| TEMA (21): | 50,975.19 | |
| Williams %R (14): | -34.50 | |
| Chande Momentum Oscillator (20): | -133.33 | |
| Repulse (5,40,3): | 0.5800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 1.00 |
| MA7: | 51,719.90 | |
| MA20: | 48,931.20 | |
| MA50: | 45,247.83 | |
| MA100: | 43,155.53 | |
| MAexp7: | 51,060.94 | |
| MAexp20: | 51,170.28 | |
| MAexp50: | 51,344.18 | |
| MAexp100: | 51,423.65 | |
| Price / MA7: | -1.22% | |
| Price / MA20: | +4.41% | |
| Price / MA50: | +12.91% | |
| Price / MA100: | +18.38% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | -0.16% | |
| Price / MAexp50: | -0.50% | |
| Price / MAexp100: | -0.65% |
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.
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