BITCOIN GOLD - BTG/USD - 1H - Technical analysis published on 12/11/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
6%
44%
My opinion
Bearish under 24.14 USD
My targets
19.93 USD (-16.40%)
15.72 USD (-34.06%)
My analysis
Has the basic bearish 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 bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 24.14 USD remains possible. It is advisable to trade BITCOIN GOLD - BTG/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 24.14 USD. The next bearish objective for sellers is set at 19.93 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 15.72 USD. In case of crossing, the next objective would be the support located at 14.92 USD. PS: if there is a bullish break in the resistance located at 24.14 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.4
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Additional analysis
Quotes
The BITCOIN GOLD - BTG/USD rating is 23.84 USD. The price registered a decrease of -5.47% on the session with the lowest point at 20.05 USD and the highest point at 28.75 USD. The deviation from the price is +18.90% for the low point and -17.08% for the high point.20.05
28.75
23.84
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN GOLD - BTG/USD:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Abnormal volumes on BITCOIN GOLD - BTG/USD were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of BITCOIN GOLD - BTG/USD in 1H shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of these bullish patterns in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : 1 hour
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 14.92 | 19.93 | 23.84 | 24.14 | 26.84 | 31.33 |
| Change (%) | -37.42% | -16.40% | - | +1.26% | +12.58% | +31.42% |
| Change | -8.92 | -3.91 | - | +0.30 | +3.00 | +7.49 |
| Level | Minor | Major | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.83 | 14.64 | 19.93 | 26.74 | 32.03 | 38.84 | 44.13 |
| Camarilla | 21.89 | 23.00 | 24.11 | 25.22 | 26.33 | 27.44 | 28.55 |
| Woodie | 7.07 | 14.26 | 19.17 | 26.36 | 31.27 | 38.46 | 43.37 |
| Fibonacci | 14.64 | 19.26 | 22.12 | 26.74 | 31.36 | 34.22 | 38.84 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.58 | 15.72 | 26.43 | 34.57 | 45.28 | 53.42 | 64.13 |
| Camarilla | 31.96 | 33.68 | 35.41 | 37.14 | 38.87 | 40.60 | 42.32 |
| Woodie | 8.87 | 16.36 | 27.72 | 35.21 | 46.57 | 54.06 | 65.42 |
| Fibonacci | 15.72 | 22.92 | 27.37 | 34.57 | 41.77 | 46.22 | 53.42 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.45 | 12.93 | 24.26 | 31.74 | 43.07 | 50.55 | 61.88 |
| Camarilla | 30.42 | 32.14 | 33.87 | 35.59 | 37.31 | 39.04 | 40.76 |
| Woodie | 7.38 | 13.89 | 26.19 | 32.70 | 45.00 | 51.51 | 63.81 |
| Fibonacci | 12.93 | 20.12 | 24.56 | 31.74 | 38.93 | 43.37 | 50.55 |
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): | 66.71 | |
| MACD (12,26,9): | -0.1500 | |
| Directional Movement: | 3.19 | |
| AROON (14): | 0 | |
| DEMA (21): | 22.91 | |
| Parabolic SAR (0,02-0,02-0,2): | 28.75 | |
| Elder Ray (13): | 1.47 | |
| Super Trend (3,10): | 33.54 | |
| Zig ZAG (10): | 27.65 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 54.26 | |
| TEMA (21): | 23.94 | |
| Williams %R (14): | -69.38 | |
| Chande Momentum Oscillator (20): | 0.18 | |
| Repulse (5,40,3): | -39.3100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.5000 | |
| Courbe Coppock: | 14.35 |
| MA7: | 33.27 | |
| MA20: | 34.13 | |
| MA50: | 29.23 | |
| MA100: | 25.92 | |
| MAexp7: | 23.80 | |
| MAexp20: | 23.84 | |
| MAexp50: | 26.32 | |
| MAexp100: | 29.50 | |
| Price / MA7: | -28.34% | |
| Price / MA20: | -30.15% | |
| Price / MA50: | -18.44% | |
| Price / MA100: | -8.02% | |
| Price / MAexp7: | +0.17% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | -9.42% | |
| Price / MAexp100: | -19.19% |
Quotes :
-
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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