BITCOIN - BTC/USD - 1H - Technical analysis published on 04/17/2023 (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
11%
61%
28%
My opinion
Bearish under 29,794.70 USD
My targets
28,446.60 USD (-3.43%)
28,170.30 USD (-4.37%)
My analysis
BITCOIN - BTC/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 29,794.70 USD. The next support located at 28,446.60 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 28,170.30 USD. Below this support, sellers could then target 24,446.00 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.7
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Consciousconnection. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 29,457.74 USD. The price is lower by -2.85% since the last closing with the lowest point at 29,267.27 USD and the highest point at 30,325.02 USD. The deviation from the price is +0.65% for the low point and -2.86% for the high point.29,267.27
30,325.02
29,457.74
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:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a 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/USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bearish. 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
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Support of channel is broken
Type : Bearish
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 | 24,446.00 | 28,170.30 | 28,446.60 | 29,457.74 | 29,794.70 | 30,484.70 | 31,029.50 |
| Change (%) | -17.01% | -4.37% | -3.43% | - | +1.14% | +3.49% | +5.34% |
| Change | -5,011.74 | -1,287.44 | -1,011.14 | - | +336.96 | +1,026.96 | +1,571.76 |
| Level | Intermediate | Intermediate | Major | - | Major | 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 | 29,714.43 | 29,930.41 | 30,125.89 | 30,341.87 | 30,537.35 | 30,753.33 | 30,948.81 |
| Camarilla | 30,208.23 | 30,245.95 | 30,283.66 | 30,321.38 | 30,359.10 | 30,396.81 | 30,434.53 |
| Woodie | 29,704.19 | 29,925.29 | 30,115.65 | 30,336.75 | 30,527.11 | 30,748.21 | 30,938.57 |
| Fibonacci | 29,930.41 | 30,087.58 | 30,184.69 | 30,341.87 | 30,499.04 | 30,596.15 | 30,753.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25,200.09 | 26,508.60 | 28,412.47 | 29,720.98 | 31,624.85 | 32,933.36 | 34,837.23 |
| Camarilla | 29,432.95 | 29,727.41 | 30,021.88 | 30,316.35 | 30,610.82 | 30,905.29 | 31,199.76 |
| Woodie | 25,497.78 | 26,657.44 | 28,710.16 | 29,869.82 | 31,922.54 | 33,082.20 | 35,134.92 |
| Fibonacci | 26,508.60 | 27,735.73 | 28,493.85 | 29,720.98 | 30,948.11 | 31,706.23 | 32,933.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12,681.90 | 16,120.50 | 22,298.50 | 25,737.10 | 31,915.10 | 35,353.70 | 41,531.70 |
| Camarilla | 25,831.94 | 26,713.46 | 27,594.98 | 28,476.50 | 29,358.02 | 30,239.54 | 31,121.07 |
| Woodie | 14,051.60 | 16,805.35 | 23,668.20 | 26,421.95 | 33,284.80 | 36,038.55 | 42,901.40 |
| Fibonacci | 16,120.50 | 19,794.04 | 22,063.56 | 25,737.10 | 29,410.64 | 31,680.16 | 35,353.70 |
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): | 23.71 | |
| MACD (12,26,9): | -222.7100 | |
| Directional Movement: | -33.44 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 29,519.97 | |
| Parabolic SAR (0,02-0,02-0,2): | 29,972.80 | |
| Elder Ray (13): | -295.20 | |
| Super Trend (3,10): | 29,846.45 | |
| Zig ZAG (10): | 29,385.11 | |
| VORTEX (21): | 0.7300 | |
| Stochastique (14,3,5): | 16.08 | |
| TEMA (21): | 29,394.93 | |
| Williams %R (14): | -82.44 | |
| Chande Momentum Oscillator (20): | -598.71 | |
| Repulse (5,40,3): | -0.1000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0800 | |
| Courbe Coppock: | 3.83 |
| MA7: | 30,150.39 | |
| MA20: | 28,930.23 | |
| MA50: | 26,379.81 | |
| MA100: | 24,347.08 | |
| MAexp7: | 29,520.03 | |
| MAexp20: | 29,788.08 | |
| MAexp50: | 30,043.40 | |
| MAexp100: | 30,085.86 | |
| Price / MA7: | -2.30% | |
| Price / MA20: | +1.82% | |
| Price / MA50: | +11.67% | |
| Price / MA100: | +20.99% | |
| Price / MAexp7: | -0.21% | |
| Price / MAexp20: | -1.11% | |
| Price / MAexp50: | -1.95% | |
| Price / MAexp100: | -2.09% |
Quotes :
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Real time data
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Cryptocompare
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