BITCOIN - BTC/USD - Daily - Technical analysis published on 07/05/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : IN PROGRESS...
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under
My targets
()
()
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 . The next support located at 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 . Below this support, sellers could then target . 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, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.1
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 MikeBMVP. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 55,186.08 USD. The price registered a decrease of -3.25% on the session with the lowest point at 53,902.25 USD and the highest point at 57,507.90 USD. The deviation from the price is +2.38% for the low point and -4.04% for the high point.53,902.25
57,507.90
55,186.08
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BITCOIN - BTC/USD in Daily shows a overall strongly bearish trend. 85.71% 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 scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a strong bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Three black crows
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 39,519.49 | 47,352.27 | 50,742.68 | 55,186.08 | 58,274.94 | 63,999.86 | 67,554.70 |
| Change (%) | -28.39% | -14.20% | -8.05% | - | +5.60% | +15.97% | +22.41% |
| Change | -15,666.59 | -7,833.81 | -4,443.40 | - | +3,088.86 | +8,813.78 | +12,368.62 |
| Level | Intermediate | Intermediate | Minor | - | Major | 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 | 52,030.00 | 54,386.95 | 55,713.35 | 58,070.30 | 59,396.70 | 61,753.65 | 63,080.05 |
| Camarilla | 56,026.84 | 56,364.48 | 56,702.12 | 57,039.76 | 57,377.40 | 57,715.04 | 58,052.68 |
| Woodie | 51,514.74 | 54,129.31 | 55,198.09 | 57,812.66 | 58,881.44 | 61,496.01 | 62,564.79 |
| Fibonacci | 54,386.95 | 55,793.99 | 56,663.26 | 58,070.30 | 59,477.34 | 60,346.61 | 61,753.65 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52,109.84 | 55,308.53 | 58,105.18 | 61,303.87 | 64,100.52 | 67,299.21 | 70,095.86 |
| Camarilla | 59,253.10 | 59,802.67 | 60,352.25 | 60,901.82 | 61,451.39 | 62,000.97 | 62,550.54 |
| Woodie | 51,908.81 | 55,208.02 | 57,904.15 | 61,203.36 | 63,899.49 | 67,198.70 | 69,894.83 |
| Fibonacci | 55,308.53 | 57,598.75 | 59,013.65 | 61,303.87 | 63,594.09 | 65,008.99 | 67,299.21 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 43,402.24 | 50,954.73 | 56,820.38 | 64,372.87 | 70,238.52 | 77,791.01 | 83,656.66 |
| Camarilla | 58,996.03 | 60,226.03 | 61,456.02 | 62,686.02 | 63,916.02 | 65,146.01 | 66,376.01 |
| Woodie | 42,558.81 | 50,533.02 | 55,976.95 | 63,951.16 | 69,395.09 | 77,369.30 | 82,813.23 |
| Fibonacci | 50,954.73 | 56,080.46 | 59,247.14 | 64,372.87 | 69,498.60 | 72,665.28 | 77,791.01 |
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): | 25.59 | |
| MACD (12,26,9): | -2,202.7200 | |
| Directional Movement: | -32.81 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 59,212.99 | |
| Parabolic SAR (0,02-0,02-0,2): | 63,659.39 | |
| Elder Ray (13): | -4,934.51 | |
| Super Trend (3,10): | 62,422.97 | |
| Zig ZAG (10): | 55,150.06 | |
| VORTEX (21): | 0.7300 | |
| Stochastique (14,3,5): | 12.20 | |
| TEMA (21): | 57,809.58 | |
| Williams %R (14): | -87.65 | |
| Chande Momentum Oscillator (20): | -7,950.63 | |
| Repulse (5,40,3): | -10.0000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3800 | |
| Courbe Coppock: | 15.34 |
| MA7: | 60,127.41 | |
| MA20: | 62,255.52 | |
| MA50: | 66,008.98 | |
| MA100: | 65,558.58 | |
| MAexp7: | 59,149.43 | |
| MAexp20: | 61,855.11 | |
| MAexp50: | 64,054.60 | |
| MAexp100: | 63,465.60 | |
| Price / MA7: | -8.22% | |
| Price / MA20: | -11.36% | |
| Price / MA50: | -16.40% | |
| Price / MA100: | -15.82% | |
| Price / MAexp7: | -6.70% | |
| Price / MAexp20: | -10.78% | |
| Price / MAexp50: | -13.85% | |
| Price / MAexp100: | -13.05% |
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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