BITCOIN - BTC/USD - 1H - Technical analysis published on 07/28/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
56%
28%
My opinion
Bearish under 68,000.05 USD
My targets
66,924.09 USD (-0.92%)
65,472.88 USD (-3.07%)
My analysis
The strong short-term decline in BITCOIN - BTC/USD calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 68,000.05 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 66,924.09 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 65,472.88 USD as an objective. Crossing it would then enable sellers to target 64,460.22 USD. Be careful, a return to above 68,000.05 USD could jeopardize the reversal.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
1.6
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This analysis was given by world script ltda. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 67,544.45 USD. The price registered a decrease of -0.53% on the session with the lowest point at 67,071.49 USD and the highest point at 68,279.20 USD. The deviation from the price is +0.71% for the low point and -1.08% for the high point.67,071.49
68,279.20
67,544.45
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 slightly bullish. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 10 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 64,460.22 | 65,472.88 | 66,924.09 | 67,544.45 | 67,554.70 | 68,000.05 | 68,493.24 |
| Change (%) | -4.57% | -3.07% | -0.92% | - | +0.02% | +0.67% | +1.40% |
| Change | -3,084.23 | -2,071.57 | -620.36 | - | +10.25 | +455.60 | +948.79 |
| Level | Minor | Intermediate | Intermediate | - | Major | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63,862.66 | 65,275.00 | 66,587.82 | 68,000.16 | 69,312.98 | 70,725.32 | 72,038.14 |
| Camarilla | 67,151.21 | 67,401.02 | 67,650.82 | 67,900.63 | 68,150.44 | 68,400.24 | 68,650.05 |
| Woodie | 63,812.89 | 65,250.12 | 66,538.05 | 67,975.28 | 69,263.21 | 70,700.44 | 71,988.37 |
| Fibonacci | 65,275.00 | 66,316.01 | 66,959.15 | 68,000.16 | 69,041.17 | 69,684.31 | 70,725.32 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 58,453.74 | 60,947.87 | 64,424.25 | 66,918.38 | 70,394.76 | 72,888.89 | 76,365.27 |
| Camarilla | 66,258.74 | 66,806.04 | 67,353.33 | 67,900.63 | 68,447.93 | 68,995.22 | 69,542.52 |
| Woodie | 58,944.87 | 61,193.43 | 64,915.38 | 67,163.94 | 70,885.89 | 73,134.45 | 76,856.40 |
| Fibonacci | 60,947.87 | 63,228.61 | 64,637.65 | 66,918.38 | 69,199.12 | 70,608.16 | 72,888.89 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 45,746.50 | 52,126.87 | 57,406.44 | 63,786.81 | 69,066.38 | 75,446.75 | 80,726.32 |
| Camarilla | 59,479.54 | 60,548.36 | 61,617.19 | 62,686.02 | 63,754.85 | 64,823.68 | 65,892.50 |
| Woodie | 45,196.11 | 51,851.67 | 56,856.05 | 63,511.61 | 68,515.99 | 75,171.55 | 80,175.93 |
| Fibonacci | 52,126.87 | 56,580.96 | 59,332.71 | 63,786.81 | 68,240.90 | 70,992.65 | 75,446.75 |
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): | 41.55 | |
| MACD (12,26,9): | -92.1400 | |
| Directional Movement: | -22.32 | |
| AROON (14): | 7.14 | |
| DEMA (21): | 67,982.19 | |
| Parabolic SAR (0,02-0,02-0,2): | 68,496.68 | |
| Elder Ray (13): | -484.13 | |
| Super Trend (3,10): | 68,905.43 | |
| Zig ZAG (10): | 67,471.80 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 30.03 | |
| TEMA (21): | 67,629.79 | |
| Williams %R (14): | -67.39 | |
| Chande Momentum Oscillator (20): | -1,133.18 | |
| Repulse (5,40,3): | -0.2800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 2.57 |
| MA7: | 66,852.83 | |
| MA20: | 63,947.14 | |
| MA50: | 63,404.46 | |
| MA100: | 64,555.79 | |
| MAexp7: | 67,727.03 | |
| MAexp20: | 67,999.69 | |
| MAexp50: | 67,698.64 | |
| MAexp100: | 67,178.53 | |
| Price / MA7: | +1.03% | |
| Price / MA20: | +5.63% | |
| Price / MA50: | +6.53% | |
| Price / MA100: | +4.63% | |
| Price / MAexp7: | -0.27% | |
| Price / MAexp20: | -0.67% | |
| Price / MAexp50: | -0.23% | |
| Price / MAexp100: | +0.54% |
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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