BITCOIN CASH - BCH/USD - 1H - Technical analysis published on 05/02/2024 (GMT)
- 97
- 0
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:
Bullish
Underlying:
Bearish
Technical indicators
56%
17%
28%
My opinion
Bearish under 452.99 USD
My targets
399.37 USD (-5.68%)
384.63 USD (-9.16%)
My analysis
The basic trend is bearish on BITCOIN CASH - BCH/USD and in the short term, the price is trying to rebound. For the time being, this is only a technical rebound and the basic trend is not threatened. To have the rebound confirmed, it would have at least to go back above the 452.99 USD. Buyers would then use the next resistance located at 463.70 USD as an objective. Crossing it would then enable buyers to target 485.06 USD. If there is a return to below the support located at 399.37 USD, this would be a sign of a reversal in the basic bearish trend. The next bearish objectives would be 384.63 USD and 304.28 USD by extension.
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
0.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN CASH - BCH/USD price is 423.41 USD. The price registered a decrease of -0.19% on the session with the lowest point at 411.09 USD and the highest point at 429.28 USD. The deviation from the price is +3.00% for the low point and -1.37% for the high point.411.09
429.28
423.41
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BITCOIN CASH - BCH/USD in 1H shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this bearish trend may be slowing down. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 304.28 | 384.63 | 399.37 | 423.41 | 424.15 | 463.70 | 485.06 |
| Change (%) | -28.14% | -9.16% | -5.68% | - | +0.17% | +9.52% | +14.56% |
| Change | -119.13 | -38.78 | -24.04 | - | +0.74 | +40.29 | +61.65 |
| Level | Major | Intermediate | Intermediate | - | Major | Major | Minor |
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 | 367.68 | 383.53 | 403.86 | 419.71 | 440.04 | 455.89 | 476.22 |
| Camarilla | 414.25 | 417.57 | 420.88 | 424.20 | 427.52 | 430.83 | 434.15 |
| Woodie | 369.93 | 384.65 | 406.11 | 420.83 | 442.29 | 457.01 | 478.47 |
| Fibonacci | 383.53 | 397.35 | 405.89 | 419.71 | 433.53 | 442.07 | 455.89 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 391.19 | 428.78 | 452.99 | 490.58 | 514.79 | 552.38 | 576.59 |
| Camarilla | 460.20 | 465.86 | 471.53 | 477.19 | 482.86 | 488.52 | 494.19 |
| Woodie | 384.49 | 425.44 | 446.29 | 487.24 | 508.09 | 549.04 | 569.89 |
| Fibonacci | 428.78 | 452.39 | 466.98 | 490.58 | 514.19 | 528.78 | 552.38 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 32.98 | 226.77 | 330.39 | 524.18 | 627.80 | 821.59 | 925.21 |
| Camarilla | 352.22 | 379.49 | 406.75 | 434.01 | 461.27 | 488.54 | 515.80 |
| Woodie | -12.11 | 204.23 | 285.31 | 501.64 | 582.72 | 799.05 | 880.13 |
| Fibonacci | 226.77 | 340.38 | 410.57 | 524.18 | 637.79 | 707.98 | 821.59 |
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): | 51.44 | |
| MACD (12,26,9): | 0.3600 | |
| Directional Movement: | 3.40 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 418.34 | |
| Parabolic SAR (0,02-0,02-0,2): | 410.11 | |
| Elder Ray (13): | 1.24 | |
| Super Trend (3,10): | 411.96 | |
| Zig ZAG (10): | 419.79 | |
| VORTEX (21): | 1.0900 | |
| Stochastique (14,3,5): | 55.74 | |
| TEMA (21): | 421.63 | |
| Williams %R (14): | -59.10 | |
| Chande Momentum Oscillator (20): | 2.70 | |
| Repulse (5,40,3): | -1.3200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.59 |
| MA7: | 453.25 | |
| MA20: | 480.32 | |
| MA50: | 517.90 | |
| MA100: | 410.58 | |
| MAexp7: | 419.94 | |
| MAexp20: | 418.61 | |
| MAexp50: | 423.96 | |
| MAexp100: | 437.20 | |
| Price / MA7: | -6.58% | |
| Price / MA20: | -11.85% | |
| Price / MA50: | -18.24% | |
| Price / MA100: | +3.12% | |
| Price / MAexp7: | +0.83% | |
| Price / MAexp20: | +1.15% | |
| Price / MAexp50: | -0.13% | |
| Price / MAexp100: | -3.15% |
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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