BITCOIN - BTC/EUR - 1H - Technical analysis published on 03/19/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
6%
72%
22%
My opinion
Bearish under 58,274.90 EUR
My targets
54,380.58 EUR (-5.69%)
53,184.70 EUR (-7.77%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BITCOIN - BTC/EUR as long as the price remains well below 58,274.90 EUR. The sellers' bearish objective is set at 54,380.58 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 53,184.70 EUR. In case of crossing, the next objective would be the support located at 48,406.86 EUR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
8.2
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This analysis was given by Pita. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/EUR rating is 57,662.30 EUR. The price is lower by -7.26% since the last closing and was traded between 57,513.82 EUR and 62,639.62 EUR over the period. The price is currently at +0.26% from its lowest and -7.95% from its highest.57,513.82
62,639.62
57,662.30
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this 1H chart of BITCOIN - BTC/EUR indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 36,333.08 | 48,406.86 | 53,184.70 | 57,662.30 | 58,274.90 | 59,218.94 | 60,229.59 |
| Change (%) | -36.99% | -16.05% | -7.77% | - | +1.06% | +2.70% | +4.45% |
| Change | -21,329.22 | -9,255.44 | -4,477.60 | - | +612.60 | +1,556.64 | +2,567.29 |
| Level | Major | Intermediate | Intermediate | - | Major | Minor | Intermediate |
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 | 59,050.27 | 60,123.92 | 61,149.37 | 62,223.02 | 63,248.47 | 64,322.12 | 65,347.57 |
| Camarilla | 61,597.56 | 61,789.98 | 61,982.39 | 62,174.81 | 62,367.23 | 62,559.65 | 62,752.06 |
| Woodie | 59,026.16 | 60,111.87 | 61,125.26 | 62,210.97 | 63,224.36 | 64,310.07 | 65,323.46 |
| Fibonacci | 60,123.92 | 60,925.78 | 61,421.17 | 62,223.02 | 63,024.88 | 63,520.27 | 64,322.12 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 49,243.66 | 54,380.58 | 57,159.71 | 62,296.63 | 65,075.76 | 70,212.68 | 72,991.81 |
| Camarilla | 57,761.94 | 58,487.57 | 59,213.21 | 59,938.85 | 60,664.49 | 61,390.13 | 62,115.76 |
| Woodie | 48,064.78 | 53,791.13 | 55,980.83 | 61,707.18 | 63,896.88 | 69,623.23 | 71,812.93 |
| Fibonacci | 54,380.58 | 57,404.51 | 59,272.70 | 62,296.63 | 65,320.56 | 67,188.75 | 70,212.68 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23,513.71 | 31,120.25 | 43,868.92 | 51,475.46 | 64,224.13 | 71,830.67 | 84,579.34 |
| Camarilla | 51,019.90 | 52,885.79 | 54,751.69 | 56,617.58 | 58,483.47 | 60,349.37 | 62,215.26 |
| Woodie | 26,084.77 | 32,405.78 | 46,439.98 | 52,760.99 | 66,795.19 | 73,116.20 | 87,150.40 |
| Fibonacci | 31,120.25 | 38,895.94 | 43,699.77 | 51,475.46 | 59,251.15 | 64,054.98 | 71,830.67 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 25.92 | |
| MACD (12,26,9): | -937.8400 | |
| Directional Movement: | -22.84 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 59,140.32 | |
| Parabolic SAR (0,02-0,02-0,2): | 59,964.35 | |
| Elder Ray (13): | -1,504.81 | |
| Super Trend (3,10): | 60,838.78 | |
| Zig ZAG (10): | 58,032.94 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 12.54 | |
| TEMA (21): | 58,374.26 | |
| Williams %R (14): | -98.96 | |
| Chande Momentum Oscillator (20): | -4,306.48 | |
| Repulse (5,40,3): | -1.5100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1500 | |
| Courbe Coppock: | 9.53 |
| MA7: | 62,689.34 | |
| MA20: | 61,603.19 | |
| MA50: | 51,883.15 | |
| MA100: | 45,524.17 | |
| MAexp7: | 58,900.14 | |
| MAexp20: | 60,226.46 | |
| MAexp50: | 61,236.98 | |
| MAexp100: | 62,056.19 | |
| Price / MA7: | -8.02% | |
| Price / MA20: | -6.40% | |
| Price / MA50: | +11.14% | |
| Price / MA100: | +26.66% | |
| Price / MAexp7: | -2.10% | |
| Price / MAexp20: | -4.26% | |
| Price / MAexp50: | -5.84% | |
| Price / MAexp100: | -7.08% |
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.
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