BITCOIN - BTC/USD - Daily - Technical analysis published on 09/05/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 26,345.18 USD
My targets
24,988.96 USD (-3.03%)
23,641.00 USD (-8.26%)
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 26,345.18 USD. The next support located at 24,988.96 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 23,641.00 USD. Below this support, sellers could then target 20,220.20 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 are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5.9
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 yotta. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 25,768.71 USD. The price registered a decrease of -0.15% on the session and was traded between 25,581.20 USD and 25,824.81 USD over the period. The price is currently at +0.73% from its lowest and -0.22% from its highest.25,581.20
25,824.81
25,768.71
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BITCOIN - BTC/USD in Daily shows a overall strongly bearish trend. 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.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 5 are neutral and 6 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near support of channel
Type : Bullish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Black hanging man / hammer
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20,220.20 | 23,641.00 | 24,988.96 | 25,768.71 | 26,345.18 | 27,309.23 | 29,794.70 |
| Change (%) | -21.53% | -8.26% | -3.03% | - | +2.24% | +5.98% | +15.62% |
| Change | -5,548.51 | -2,127.71 | -779.75 | - | +576.47 | +1,540.52 | +4,025.99 |
| Level | Minor | Minor | Major | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25,159.65 | 25,399.97 | 25,603.03 | 25,843.35 | 26,046.41 | 26,286.73 | 26,489.79 |
| Camarilla | 25,684.16 | 25,724.80 | 25,765.45 | 25,806.09 | 25,846.73 | 25,887.38 | 25,928.02 |
| Woodie | 25,141.02 | 25,390.66 | 25,584.40 | 25,834.04 | 26,027.78 | 26,277.42 | 26,471.16 |
| Fibonacci | 25,399.97 | 25,569.34 | 25,673.98 | 25,843.35 | 26,012.72 | 26,117.36 | 26,286.73 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22,040.61 | 23,688.22 | 24,778.99 | 26,426.60 | 27,517.37 | 29,164.98 | 30,255.75 |
| Camarilla | 25,116.72 | 25,367.73 | 25,618.75 | 25,869.77 | 26,120.79 | 26,371.81 | 26,622.83 |
| Woodie | 21,762.20 | 23,549.01 | 24,500.58 | 26,287.39 | 27,238.96 | 29,025.77 | 29,977.34 |
| Fibonacci | 23,688.22 | 24,734.28 | 25,380.54 | 26,426.60 | 27,472.66 | 28,118.92 | 29,164.98 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19,667.20 | 22,622.50 | 24,279.40 | 27,234.70 | 28,891.60 | 31,846.90 | 33,503.80 |
| Camarilla | 24,667.95 | 25,090.73 | 25,513.52 | 25,936.30 | 26,359.09 | 26,781.87 | 27,204.66 |
| Woodie | 19,018.00 | 22,297.90 | 23,630.20 | 26,910.10 | 28,242.40 | 31,522.30 | 32,854.60 |
| Fibonacci | 22,622.50 | 24,384.36 | 25,472.84 | 27,234.70 | 28,996.56 | 30,085.04 | 31,846.90 |
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): | 36.01 | |
| MACD (12,26,9): | -650.2300 | |
| Directional Movement: | -10.15 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 25,676.15 | |
| Parabolic SAR (0,02-0,02-0,2): | 27,861.61 | |
| Elder Ray (13): | -541.85 | |
| Super Trend (3,10): | 25,296.87 | |
| Zig ZAG (10): | 25,746.36 | |
| VORTEX (21): | 0.7800 | |
| Stochastique (14,3,5): | 18.36 | |
| TEMA (21): | 25,578.60 | |
| Williams %R (14): | -85.25 | |
| Chande Momentum Oscillator (20): | -420.19 | |
| Repulse (5,40,3): | -0.8100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3800 | |
| Courbe Coppock: | 2.74 |
| MA7: | 26,062.05 | |
| MA20: | 26,206.05 | |
| MA50: | 28,123.55 | |
| MA100: | 28,399.53 | |
| MAexp7: | 25,998.26 | |
| MAexp20: | 26,575.05 | |
| MAexp50: | 27,591.65 | |
| MAexp100: | 27,834.74 | |
| Price / MA7: | -1.13% | |
| Price / MA20: | -1.67% | |
| Price / MA50: | -8.37% | |
| Price / MA100: | -9.26% | |
| Price / MAexp7: | -0.88% | |
| Price / MAexp20: | -3.03% | |
| Price / MAexp50: | -6.61% | |
| Price / MAexp100: | -7.42% |
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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