BITCOIN - BTC/USD - Weekly - Technical analysis published on 11/17/2022 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
44%
22%
My opinion
Bearish under 19,345.50 USD
My targets
12,932.90 USD (-21.54%)
8,641.75 USD (-47.57%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BITCOIN - BTC/USD as long as the price remains well below 19,345.50 USD. The sellers' bearish objective is set at 12,932.90 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8,641.75 USD. In case of crossing, the next objective would be the support located at 4,835.20 USD. 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 not called into question, despite technical indicators being neutral.
Force
0
10
6.4
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This analysis was given by ErnestMoney. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 16,483.80 USD. The price is lower by -3.09% over the 5 days and was traded between 15,801.30 USD and 17,145.90 USD over the period. The price is currently at +4.32% from its lowest point and -3.86% from its highest point.15,801.30
17,145.90
16,483.80
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
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 BITCOIN - BTC/USD in Weekly shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 100
Type : Bearish
Timeframe : Weekly
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 4,835.20 | 12,932.90 | 16,483.80 | 19,345.50 | 29,794.70 | 35,079.50 |
| Change (%) | -70.67% | -21.54% | - | +17.36% | +80.75% | +112.81% |
| Change | -11,648.60 | -3,550.90 | - | +2,861.70 | +13,310.90 | +18,595.70 |
| Level | 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 | 15,761.82 | 16,069.40 | 16,365.75 | 16,673.33 | 16,969.68 | 17,277.26 | 17,573.61 |
| Camarilla | 16,496.01 | 16,551.37 | 16,606.73 | 16,662.09 | 16,717.45 | 16,772.81 | 16,828.17 |
| Woodie | 15,756.20 | 16,066.59 | 16,360.13 | 16,670.52 | 16,964.06 | 17,274.45 | 17,567.99 |
| Fibonacci | 16,069.40 | 16,300.11 | 16,442.63 | 16,673.33 | 16,904.04 | 17,046.56 | 17,277.26 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,641.75 | 12,102.83 | 14,438.55 | 17,899.63 | 20,235.35 | 23,696.43 | 26,032.15 |
| Camarilla | 15,180.16 | 15,711.53 | 16,242.91 | 16,774.28 | 17,305.65 | 17,837.03 | 18,368.40 |
| Woodie | 8,079.08 | 11,821.49 | 13,875.88 | 17,618.29 | 19,672.68 | 23,415.09 | 25,469.48 |
| Fibonacci | 12,102.83 | 14,317.20 | 15,685.25 | 17,899.63 | 20,114.00 | 21,482.05 | 23,696.43 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16,018.50 | 17,139.70 | 18,816.10 | 19,937.30 | 21,613.70 | 22,734.90 | 24,411.30 |
| Camarilla | 19,723.16 | 19,979.61 | 20,236.05 | 20,492.50 | 20,748.95 | 21,005.39 | 21,261.84 |
| Woodie | 16,296.10 | 17,278.50 | 19,093.70 | 20,076.10 | 21,891.30 | 22,873.70 | 24,688.90 |
| Fibonacci | 17,139.70 | 18,208.38 | 18,868.62 | 19,937.30 | 21,005.98 | 21,666.22 | 22,734.90 |
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): | 31.73 | |
| MACD (12,26,9): | -3,468.5900 | |
| Directional Movement: | -15.49 | |
| AROON (14): | -85.72 | |
| DEMA (21): | 16,336.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 24,020.35 | |
| Elder Ray (13): | -3,241.48 | |
| Super Trend (3,10): | 24,359.28 | |
| Zig ZAG (10): | 16,469.22 | |
| VORTEX (21): | 0.9300 | |
| Stochastique (14,3,5): | 20.35 | |
| TEMA (21): | 16,963.38 | |
| Williams %R (14): | -90.43 | |
| Chande Momentum Oscillator (20): | -3,066.66 | |
| Repulse (5,40,3): | -17.2900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -2.1000 | |
| Courbe Coppock: | 28.54 |
| MA7: | 16,668.14 | |
| MA20: | 18,769.81 | |
| MA50: | 19,232.67 | |
| MA100: | 20,014.22 | |
| MAexp7: | 18,618.73 | |
| MAexp20: | 21,380.52 | |
| MAexp50: | 28,097.03 | |
| MAexp100: | 30,246.82 | |
| Price / MA7: | -1.11% | |
| Price / MA20: | -12.18% | |
| Price / MA50: | -14.29% | |
| Price / MA100: | -17.64% | |
| Price / MAexp7: | -11.47% | |
| Price / MAexp20: | -22.90% | |
| Price / MAexp50: | -41.33% | |
| Price / MAexp100: | -45.50% |
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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