BITCOIN - BTC/USD - 1H - Technical analysis published on 01/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 43,203.64 USD
My targets
42,480.00 USD (-0.65%)
40,618.73 USD (-5.00%)
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 43,203.64 USD. The next support located at 42,480.00 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 40,618.73 USD. Below this support, sellers could then target 37,896.70 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.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
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 SprangsOpportunities. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 42,758.36 USD. The price is lower by -0.19% since the last closing with the lowest point at 42,655.09 USD and the highest point at 42,878.36 USD. The deviation from the price is +0.24% for the low point and -0.28% for the high point.42,655.09
42,878.36
42,758.36
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BITCOIN - BTC/USD chart shows a sharp bearish trend. 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.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 20
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
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Long black line
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 37,896.70 | 40,618.73 | 42,480.00 | 42,758.36 | 43,203.64 | 44,088.30 | 45,587.90 |
| Change (%) | -11.37% | -5.00% | -0.65% | - | +1.04% | +3.11% | +6.62% |
| Change | -4,861.66 | -2,139.63 | -278.36 | - | +445.28 | +1,329.94 | +2,829.54 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 41,640.74 | 42,041.75 | 42,440.51 | 42,841.52 | 43,240.28 | 43,641.29 | 44,040.05 |
| Camarilla | 42,619.34 | 42,692.66 | 42,765.97 | 42,839.28 | 42,912.59 | 42,985.91 | 43,059.22 |
| Woodie | 41,639.63 | 42,041.19 | 42,439.40 | 42,840.96 | 43,239.17 | 43,640.73 | 44,038.94 |
| Fibonacci | 42,041.75 | 42,347.26 | 42,536.01 | 42,841.52 | 43,147.03 | 43,335.78 | 43,641.29 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 32,425.87 | 36,986.17 | 39,912.73 | 44,473.03 | 47,399.59 | 51,959.89 | 54,886.45 |
| Camarilla | 40,780.39 | 41,466.69 | 42,152.99 | 42,839.28 | 43,525.58 | 44,211.87 | 44,898.17 |
| Woodie | 31,608.99 | 36,577.74 | 39,095.85 | 44,064.60 | 46,582.71 | 51,551.46 | 54,069.57 |
| Fibonacci | 36,986.17 | 39,846.15 | 41,613.05 | 44,473.03 | 47,333.01 | 49,099.91 | 51,959.89 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31,278.17 | 34,453.93 | 38,347.47 | 41,523.23 | 45,416.77 | 48,592.53 | 52,486.07 |
| Camarilla | 40,296.94 | 40,944.96 | 41,592.98 | 42,241.00 | 42,889.02 | 43,537.04 | 44,185.06 |
| Woodie | 31,637.05 | 34,633.38 | 38,706.35 | 41,702.68 | 45,775.65 | 48,771.98 | 52,844.95 |
| Fibonacci | 34,453.93 | 37,154.41 | 38,822.76 | 41,523.23 | 44,223.71 | 45,892.06 | 48,592.53 |
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): | 39.96 | |
| MACD (12,26,9): | -226.7300 | |
| Directional Movement: | -12.19 | |
| AROON (14): | 14.29 | |
| DEMA (21): | 42,558.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 43,197.10 | |
| Elder Ray (13): | -73.96 | |
| Super Trend (3,10): | 43,390.60 | |
| Zig ZAG (10): | 42,744.33 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 26.59 | |
| TEMA (21): | 42,781.48 | |
| Williams %R (14): | -83.01 | |
| Chande Momentum Oscillator (20): | -407.99 | |
| Repulse (5,40,3): | -0.1400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 0.18 |
| MA7: | 44,930.10 | |
| MA20: | 43,892.86 | |
| MA50: | 42,596.87 | |
| MA100: | 37,959.00 | |
| MAexp7: | 42,796.09 | |
| MAexp20: | 42,923.71 | |
| MAexp50: | 43,645.83 | |
| MAexp100: | 44,350.08 | |
| Price / MA7: | -4.83% | |
| Price / MA20: | -2.58% | |
| Price / MA50: | +0.38% | |
| Price / MA100: | +12.64% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.39% | |
| Price / MAexp50: | -2.03% | |
| Price / MAexp100: | -3.59% |
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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