BITCOIN - BTC/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BTCUSDT
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BITCOIN - BTC/USDT - Weekly - Technical analysis published on 07/22/2024 (GMT)

Timeframe : Weekly
- Analysis generated on
Status : IN PROGRESS...

Summary of the analysis

Trends

Short term: Bullish

Underlying: Strongly bullish

Technical indicators

56%

11%

33%

My opinion

Bullish above

My targets

()

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 . The buyers' bullish objective is set at . A bullish break in this resistance would boost the bullish momentum. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.

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

6.8

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

Additional analysis

Quotes

The BITCOIN - BTC/USDT rating is 67,741.03 USDT. Over 5 days, this instrument gained +4.14% and was traded between 63,250.61 USDT and 68,467.02 USDT over the period. The price is currently at +7.10% from its lowest point and -1.06% from its highest point.

63,250.61

68,467.02

67,741.03

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

The Central Records scanner for higher/lower results shows an item:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Weekly of this BITCOIN - BTC/USDT chart shows a strongly bullish trend. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : Weekly

In fact, 10 technical indicators on 18 studied are currently bullish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near horizontal resistance

Type : Bearish

Timeframe : Weekly

Near resistance of channel

Type : Bearish

Timeframe : Weekly

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	47,337.43	58,353.77	67,514.20	67,741.03	73,074.27
Change (%)	-30.12%	-13.86%	-0.33%	-	+7.87%
Change	-20,403.60	-9,387.26	-226.83	-	+5,333.24
Level	Minor	Major	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	64,136.15	65,014.97	66,587.06	67,465.88	69,037.97	69,916.79	71,488.88
Camarilla	67,485.14	67,709.81	67,934.47	68,159.14	68,383.81	68,608.47	68,833.14
Woodie	64,482.78	65,188.29	66,933.69	67,639.20	69,384.60	70,090.11	71,835.51
Fibonacci	65,014.97	65,951.22	66,529.64	67,465.88	68,402.13	68,980.55	69,916.79

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	53,325.21	56,261.97	61,700.83	64,637.59	70,076.45	73,013.21	78,452.07
Camarilla	64,836.40	65,604.16	66,371.93	67,139.69	67,907.46	68,675.22	69,442.99
Woodie	54,576.26	56,887.50	62,951.88	65,263.12	71,327.50	73,638.74	79,703.12
Fibonacci	56,261.97	59,461.46	61,438.10	64,637.59	67,837.08	69,813.72	73,013.21

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	43,482.25	51,016.23	56,894.62	64,428.60	70,306.99	77,840.97	83,719.36
Camarilla	59,084.62	60,314.09	61,543.55	62,773.02	64,002.49	65,231.96	66,461.42
Woodie	42,654.47	50,602.33	56,066.84	64,014.70	69,479.21	77,427.07	82,891.58
Fibonacci	51,016.23	56,139.75	59,305.07	64,428.60	69,552.12	72,717.44	77,840.97

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	60.34
MACD (12,26,9):	3,778.7600
Directional Movement:	4.99
AROON (14):	-28.57
DEMA (21):	68,284.40
Parabolic SAR (0,02-0,02-0,2):	69,342.88
Elder Ray (13):	3,144.84
Super Trend (3,10):	52,439.65
Zig ZAG (10):	67,741.03
VORTEX (21):	1.1100
Stochastique (14,3,5):	62.16
TEMA (21):	66,285.36
Williams %R (14):	-23.38
Chande Momentum Oscillator (20):	3,725.95
Repulse (5,40,3):	10.0400
ROCnROLL:	1
TRIX (15,9):	1.3900
Courbe Coppock:	4.05

MA7:	66,118.27
MA20:	61,163.80
MA50:	63,814.62
MA100:	64,386.58
MAexp7:	64,578.31
MAexp20:	62,357.13
MAexp50:	52,823.31
MAexp100:	43,830.71
Price / MA7:	+2.45%
Price / MA20:	+10.75%
Price / MA50:	+6.15%
Price / MA100:	+5.21%
Price / MAexp7:	+4.90%
Price / MAexp20:	+8.63%
Price / MAexp50:	+28.24%
Price / MAexp100:	+54.55%

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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