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 05/17/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

83%

17%

My opinion

Bullish above 58,353.77 USDT

My targets

66,817.67 USDT (+2.27%)

71,627.11 USDT (+9.63%)

My analysis

BITCOIN - BTC/USDT is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 58,353.77 USDT. The next resistance located at 66,817.67 USDT is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 71,627.11 USDT.

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

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 mh572. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The BITCOIN - BTC/USDT rating is 65,335.45 USDT. On the day, this instrument gained +0.15% and was between 65,237.13 USDT and 65,349.74 USDT. This implies that the price is at +0.15% from its lowest and at -0.02% from its highest.

65,237.13

65,349.74

65,335.45

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

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 an item:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of BITCOIN - BTC/USDT indicates that the overall trend is bullish. 75.00% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 15 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found this result concerning these indicators:

Pivot points : price is over resistance 1

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:

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

The presence of these bullish Japanese candlestick patterns detected by Central Candlesticks that could cause a very short term rebound were also noted:

Bullish harami

Type : Bullish

Timeframe : Daily

Bullish harami cross

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	50,745.69	58,353.77	63,997.23	65,335.45	66,817.67	71,627.11
Change (%)	-22.33%	-10.69%	-2.05%	-	+2.27%	+9.63%
Change	-14,589.76	-6,981.68	-1,338.22	-	+1,482.22	+6,291.66
Level	Minor	Intermediate	Intermediate	-	Intermediate	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	62,284.43	63,446.84	64,341.98	65,504.39	66,399.53	67,561.94	68,457.08
Camarilla	64,671.29	64,859.90	65,048.51	65,237.12	65,425.73	65,614.34	65,802.95
Woodie	62,150.80	63,380.02	64,208.35	65,437.57	66,265.90	67,495.12	68,323.45
Fibonacci	63,446.84	64,232.82	64,718.41	65,504.39	66,290.37	66,775.96	67,561.94

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	53,579.64	56,896.80	58,862.53	62,179.69	64,145.42	67,462.58	69,428.31
Camarilla	59,375.48	59,859.74	60,344.01	60,828.27	61,312.54	61,796.80	62,281.07
Woodie	52,903.94	56,558.94	58,186.83	61,841.83	63,469.72	67,124.72	68,752.61
Fibonacci	56,896.80	58,914.86	60,161.62	62,179.69	64,197.75	65,444.51	67,462.58

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	42,106.96	50,658.51	55,666.88	64,218.43	69,226.80	77,778.35	82,786.72
Camarilla	56,946.28	58,189.28	59,432.27	60,675.26	61,918.25	63,161.25	64,404.24
Woodie	40,335.38	49,772.72	53,895.30	63,332.64	67,455.22	76,892.56	81,015.14
Fibonacci	50,658.51	55,838.40	59,038.54	64,218.43	69,398.32	72,598.46	77,778.35

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):	54.93
MACD (12,26,9):	-20.9900
Directional Movement:	8.71
AROON (14):	92.86
DEMA (21):	63,001.35
Parabolic SAR (0,02-0,02-0,2):	61,339.96
Elder Ray (13):	1,866.22
Super Trend (3,10):	67,373.67
Zig ZAG (10):	65,283.96
VORTEX (21):	1.0400
Stochastique (14,3,5):	86.02
TEMA (21):	63,615.18
Williams %R (14):	-21.33
Chande Momentum Oscillator (20):	1,276.32
Repulse (5,40,3):	2.8200
ROCnROLL:	1
TRIX (15,9):	-0.1600
Courbe Coppock:	5.36

MA7:	63,372.33
MA20:	62,511.86
MA50:	64,992.58
MA100:	62,805.41
MAexp7:	63,992.59
MAexp20:	63,333.20
MAexp50:	63,556.68
MAexp100:	60,609.10
Price / MA7:	+3.10%
Price / MA20:	+4.52%
Price / MA50:	+0.53%
Price / MA100:	+4.03%
Price / MAexp7:	+2.10%
Price / MAexp20:	+3.16%
Price / MAexp50:	+2.80%
Price / MAexp100:	+7.80%

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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