BITCOIN - BTC/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCUSDT
ISIN:

BITCOIN - BTC/USDT - Daily - Technical analysis published on 02/28/2024 (GMT)

Londinia

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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

94%

My opinion

Bullish above 52,654.30 USDT

My targets

67,514.20 USDT (+11.14%)

My analysis

The bullish trend is currently very strong on BITCOIN - BTC/USDT. As long as the price remains above the support at 52,654.30 USDT, you could try to benefit from the boom. The first bullish objective is located at 67,514.20 USDT. The bullish momentum would be boosted by a break in this resistance. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

9.1

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 60,744.63 USDT. The price registered an increase of +6.50% on the session with the lowest point at 56,696.28 USDT and the highest point at 64,036.20 USDT. The deviation from the price is +7.14% for the low point and -5.14% for the high point.

56,696.28

64,036.20

60,744.63

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

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

The Central Records scanner for higher/lower results shows the following items:

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this BITCOIN - BTC/USDT chart shows a strongly 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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 17 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 80

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Long white line

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	44,055.04	47,273.05	52,654.30	60,744.63	67,514.20
Change (%)	-27.48%	-22.18%	-13.32%	-	+11.14%
Change	-16,689.59	-13,471.58	-8,090.33	-	+6,769.57
Level	Intermediate	Intermediate	Major	-	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	51,999.75	53,225.01	55,131.80	56,357.06	58,263.85	59,489.11	61,395.90
Camarilla	56,177.28	56,464.38	56,751.49	57,038.59	57,325.70	57,612.80	57,899.90
Woodie	52,340.52	53,395.39	55,472.57	56,527.44	58,604.62	59,659.49	61,736.67
Fibonacci	53,225.01	54,421.45	55,160.62	56,357.06	57,553.50	58,292.67	59,489.11

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	47,957.32	49,245.06	50,406.04	51,693.78	52,854.76	54,142.50	55,303.48
Camarilla	50,893.63	51,118.10	51,342.56	51,567.03	51,791.50	52,015.96	52,240.43
Woodie	47,893.95	49,213.37	50,342.67	51,662.09	52,791.39	54,110.81	55,240.11
Fibonacci	49,245.06	50,180.47	50,758.37	51,693.78	52,629.19	53,207.09	54,142.50

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):	86.37
MACD (12,26,9):	2,958.4600
Directional Movement:	45.76
AROON (14):	100.00
DEMA (21):	55,481.50
Parabolic SAR (0,02-0,02-0,2):	50,898.76
Elder Ray (13):	6,960.27
Super Trend (3,10):	53,469.65
Zig ZAG (10):	61,078.01
VORTEX (21):	1.3400
Stochastique (14,3,5):	88.48
TEMA (21):	56,845.99
Williams %R (14):	-21.81
Chande Momentum Oscillator (20):	8,988.88
Repulse (5,40,3):	13.2800
ROCnROLL:	1
TRIX (15,9):	0.7500
Courbe Coppock:	20.23

MA7:	53,976.18
MA20:	51,824.30
MA50:	46,263.44
MA100:	44,072.16
MAexp7:	55,321.17
MAexp20:	51,825.97
MAexp50:	47,863.93
MAexp100:	44,187.90
Price / MA7:	+12.54%
Price / MA20:	+17.21%
Price / MA50:	+31.30%
Price / MA100:	+37.83%
Price / MAexp7:	+9.83%
Price / MAexp20:	+17.24%
Price / MAexp50:	+26.94%
Price / MAexp100:	+37.50%

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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