BITCOIN - BTC/USD

- USD (-)

- Real time data - Cryptocompare

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Change:	-
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Type:	Cryptocurrencies
Ticker:	BTCUSD
ISIN:

BITCOIN - BTC/USD - Daily - Technical analysis published on 05/07/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Bullish

Underlying: Bullish

Technical indicators

50%

11%

39%

My opinion

Bullish above 61,279.96 USD

My targets

67,554.70 USD (+5.67%)

73,117.83 USD (+14.37%)

My analysis

All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on BITCOIN - BTC/USD as long as the price remains well above 61,279.96 USD. The buyers' bullish objective is set at 67,554.70 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 73,117.83 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

4.1

Comment on the analysis

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 jann1414. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BITCOIN - BTC/USD rating 63,929.10 USD. The price registered an increase of +1.21% on the session and was between 62,971.97 USD and 63,954.25 USD. This implies that the price is at +1.52% from its lowest and at -0.04% from its highest.

62,971.97

63,954.25

63,929.10

The Central Gaps scanner detects a bearish opening. A small advantage for sellers 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:

Technical

A technical analysis in Daily of this BITCOIN - BTC/USD chart shows a bullish trend. 64.29% of the signals given by moving averages are bullish. This bullish trend shows slight signs of slowing down given the slightly bullish signals given by the short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Daily

In fact, only 9 technical indicators out of 18 studied are currently bullish. The Central Indicators scanner found no further results concerning independent technical indicators.

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

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	47,352.27	50,742.68	61,279.96	63,929.10	67,554.70	73,117.83
Change (%)	-25.93%	-20.63%	-4.14%	-	+5.67%	+14.37%
Change	-16,576.83	-13,186.42	-2,649.14	-	+3,625.60	+9,188.73
Level	Intermediate	Minor	Major	-	Major	Major

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	59,308.87	61,013.83	62,090.62	63,795.58	64,872.37	66,577.33	67,654.12
Camarilla	62,402.43	62,657.42	62,912.42	63,167.41	63,422.40	63,677.40	63,932.39
Woodie	58,994.79	60,856.79	61,776.54	63,638.54	64,558.29	66,420.29	67,340.04
Fibonacci	61,013.83	62,076.46	62,732.95	63,795.58	64,858.21	65,514.70	66,577.33

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	50,499.57	53,506.88	58,702.04	61,709.35	66,904.51	69,911.82	75,106.98
Camarilla	61,641.51	62,393.40	63,145.30	63,897.19	64,649.08	65,400.98	66,152.87
Woodie	51,593.49	54,053.84	59,795.96	62,256.31	67,998.43	70,458.78	76,200.90
Fibonacci	53,506.88	56,640.23	58,576.01	61,709.35	64,842.70	66,778.48	69,911.82

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	41,941.71	50,521.84	55,575.35	64,155.48	69,208.99	77,789.12	82,842.63
Camarilla	56,879.61	58,129.36	59,379.11	60,628.86	61,878.61	63,128.36	64,378.11
Woodie	40,178.40	49,640.19	53,812.04	63,273.83	67,445.68	76,907.47	81,079.32
Fibonacci	50,521.84	55,729.89	58,947.43	64,155.48	69,363.53	72,581.07	77,789.12

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):	49.21
MACD (12,26,9):	-828.6000
Directional Movement:	-2.83
AROON (14):	-57.14
DEMA (21):	62,338.58
Parabolic SAR (0,02-0,02-0,2):	57,503.08
Elder Ray (13):	309.11
Super Trend (3,10):	67,446.64
Zig ZAG (10):	63,690.86
VORTEX (21):	1.0200
Stochastique (14,3,5):	66.83
TEMA (21):	61,947.80
Williams %R (14):	-31.40
Chande Momentum Oscillator (20):	-714.94
Repulse (5,40,3):	1.5900
ROCnROLL:	1
TRIX (15,9):	-0.2600
Courbe Coppock:	6.78

MA7:	62,162.10
MA20:	63,452.87
MA50:	65,860.09
MA100:	60,854.89
MAexp7:	63,037.01
MAexp20:	63,522.35
MAexp50:	63,868.19
MAexp100:	60,153.44
Price / MA7:	+2.84%
Price / MA20:	+0.75%
Price / MA50:	-2.93%
Price / MA100:	+5.05%
Price / MAexp7:	+1.42%
Price / MAexp20:	+0.64%
Price / MAexp50:	+0.10%
Price / MAexp100:	+6.28%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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