BITCOIN - BTC/USDT - 1H - Technical analysis published on 09/25/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 61,937.73 USDT
My targets
64,154.35 USDT (+0.66%)
64,738.06 USDT (+1.57%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 61,937.73 USDT remains possible. It is advisable to trade BITCOIN - BTC/USDT with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 61,937.73 USDT. The next bullish objective for buyers is set at 64,154.35 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 64,738.06 USDT. If there is any crossing, the next objective would be the resistance located at 68,245.09 USDT. PS: if there is a bearish break in the support located at 61,937.73 USDT we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bullish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
2.5
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This analysis was given by chookich. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USDT rating 63,735.44 USDT. The price is lower by -0.83% since the last closing with the lowest point at 63,642.11 USDT and the highest point at 64,818.64 USDT. The deviation from the price is +0.15% for the low point and -1.67% for the high point.63,642.11
64,818.64
63,735.44
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BITCOIN - BTC/USDT indicates that the overall trend is bullish. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, only 7 technical indicators out of 18 studied are currently positioned bearish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 59,189.68 | 61,320.21 | 61,937.73 | 63,735.44 | 64,154.35 | 64,738.06 | 68,245.09 |
| Change (%) | -7.13% | -3.79% | -2.82% | - | +0.66% | +1.57% | +7.08% |
| Change | -4,545.76 | -2,415.23 | -1,797.71 | - | +418.91 | +1,002.62 | +4,509.65 |
| Level | Minor | Minor | Intermediate | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61,133.60 | 61,929.32 | 63,099.85 | 63,895.57 | 65,066.10 | 65,861.82 | 67,032.35 |
| Camarilla | 63,729.66 | 63,909.90 | 64,090.14 | 64,270.38 | 64,450.62 | 64,630.86 | 64,811.10 |
| Woodie | 61,321.01 | 62,023.02 | 63,287.26 | 63,989.27 | 65,253.51 | 65,955.52 | 67,219.76 |
| Fibonacci | 61,929.32 | 62,680.43 | 63,144.46 | 63,895.57 | 64,646.68 | 65,110.71 | 65,861.82 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52,571.47 | 55,039.16 | 59,194.05 | 61,661.74 | 65,816.63 | 68,284.32 | 72,439.21 |
| Camarilla | 61,527.74 | 62,134.81 | 62,741.88 | 63,348.95 | 63,956.02 | 64,563.09 | 65,170.16 |
| Woodie | 53,415.08 | 55,460.96 | 60,037.66 | 62,083.54 | 66,660.24 | 68,706.12 | 73,282.82 |
| Fibonacci | 55,039.16 | 57,568.98 | 59,131.91 | 61,661.74 | 64,191.56 | 65,754.49 | 68,284.32 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 43,606.14 | 49,084.09 | 54,028.07 | 59,506.02 | 64,450.00 | 69,927.95 | 74,871.93 |
| Camarilla | 56,106.03 | 57,061.37 | 58,016.72 | 58,972.06 | 59,927.40 | 60,882.75 | 61,838.09 |
| Woodie | 43,339.17 | 48,950.60 | 53,761.10 | 59,372.53 | 64,183.03 | 69,794.46 | 74,604.96 |
| Fibonacci | 49,084.09 | 53,065.26 | 55,524.84 | 59,506.02 | 63,487.19 | 65,946.77 | 69,927.95 |
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): | 49.10 | |
| MACD (12,26,9): | 108.6700 | |
| Directional Movement: | 1.86 | |
| AROON (14): | -42.85 | |
| DEMA (21): | 64,120.24 | |
| Parabolic SAR (0,02-0,02-0,2): | 64,706.87 | |
| Elder Ray (13): | -163.36 | |
| Super Trend (3,10): | 63,156.34 | |
| Zig ZAG (10): | 63,856.77 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 19.17 | |
| TEMA (21): | 64,100.96 | |
| Williams %R (14): | -81.89 | |
| Chande Momentum Oscillator (20): | -191.91 | |
| Repulse (5,40,3): | -0.1900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 0.63 |
| MA7: | 63,507.06 | |
| MA20: | 59,877.68 | |
| MA50: | 59,740.51 | |
| MA100: | 61,051.19 | |
| MAexp7: | 63,967.16 | |
| MAexp20: | 63,940.74 | |
| MAexp50: | 63,700.06 | |
| MAexp100: | 63,338.65 | |
| Price / MA7: | +0.36% | |
| Price / MA20: | +6.44% | |
| Price / MA50: | +6.69% | |
| Price / MA100: | +4.40% | |
| Price / MAexp7: | -0.36% | |
| Price / MAexp20: | -0.32% | |
| Price / MAexp50: | +0.06% | |
| Price / MAexp100: | +0.63% |
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.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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