BITCOIN - BTC/USD - 1H - Technical analysis published on 08/19/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
44%
39%
17%
My opinion
Bearish under 59,577.38 USD
My targets
58,274.94 USD (-0.75%)
57,695.32 USD (-1.74%)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on BITCOIN - BTC/USD as long as the price remains well below 59,577.38 USD. The next bearish objective for sellers is set at 58,274.94 USD. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 57,695.32 USD. If there is any crossing, the next objective would be the support located at 56,659.96 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.4
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This analysis was given by OzO. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 58,715.09 USD. On the day, this instrument gained +0.44% and was traded between 57,838.70 USD and 58,773.88 USD over the period. The price is currently at +1.52% from its lowest and -0.10% from its highest.57,838.70
58,773.88
58,715.09
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of BITCOIN - BTC/USD in 1H shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
On the 18 technical indicators analysed, 8 are bullish, 3 are neutral and 7 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 56,659.96 | 57,695.32 | 58,274.94 | 58,715.09 | 58,850.79 | 59,577.38 | 60,666.84 |
| Change (%) | -3.50% | -1.74% | -0.75% | - | +0.23% | +1.47% | +3.32% |
| Change | -2,055.13 | -1,019.77 | -440.15 | - | +135.70 | +862.29 | +1,951.75 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Minor | 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 | 56,016.82 | 57,227.55 | 57,842.71 | 59,053.44 | 59,668.60 | 60,879.33 | 61,494.49 |
| Camarilla | 57,955.76 | 58,123.13 | 58,290.51 | 58,457.88 | 58,625.25 | 58,792.63 | 58,960.00 |
| Woodie | 55,719.05 | 57,078.66 | 57,544.94 | 58,904.55 | 59,370.83 | 60,730.44 | 61,196.72 |
| Fibonacci | 57,227.55 | 57,925.04 | 58,355.95 | 59,053.44 | 59,750.93 | 60,181.84 | 60,879.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 51,705.27 | 54,179.05 | 56,838.43 | 59,312.21 | 61,971.59 | 64,445.37 | 67,104.75 |
| Camarilla | 58,086.18 | 58,556.72 | 59,027.26 | 59,497.80 | 59,968.34 | 60,438.88 | 60,909.42 |
| Woodie | 51,798.06 | 54,225.45 | 56,931.22 | 59,358.61 | 62,064.38 | 64,491.77 | 67,197.54 |
| Fibonacci | 54,179.05 | 56,139.92 | 57,351.35 | 59,312.21 | 61,273.08 | 62,484.51 | 64,445.37 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 39,070.71 | 46,337.18 | 55,479.85 | 62,746.32 | 71,888.99 | 79,155.46 | 88,298.13 |
| Camarilla | 60,110.00 | 61,614.17 | 63,118.34 | 64,622.51 | 66,126.68 | 67,630.85 | 69,135.02 |
| Woodie | 40,008.80 | 46,806.23 | 56,417.94 | 63,215.37 | 72,827.08 | 79,624.51 | 89,236.22 |
| Fibonacci | 46,337.18 | 52,605.48 | 56,478.03 | 62,746.32 | 69,014.62 | 72,887.17 | 79,155.46 |
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): | 41.69 | |
| MACD (12,26,9): | -293.9300 | |
| Directional Movement: | -13.23 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 58,342.26 | |
| Parabolic SAR (0,02-0,02-0,2): | 58,615.28 | |
| Elder Ray (13): | -67.73 | |
| Super Trend (3,10): | 59,059.55 | |
| Zig ZAG (10): | 58,525.65 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 50.64 | |
| TEMA (21): | 58,186.50 | |
| Williams %R (14): | -15.96 | |
| Chande Momentum Oscillator (20): | 45.76 | |
| Repulse (5,40,3): | 0.5200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 2.53 |
| MA7: | 58,903.29 | |
| MA20: | 59,456.09 | |
| MA50: | 61,428.28 | |
| MA100: | 63,922.28 | |
| MAexp7: | 58,453.44 | |
| MAexp20: | 58,706.85 | |
| MAexp50: | 59,009.48 | |
| MAexp100: | 59,137.31 | |
| Price / MA7: | -0.32% | |
| Price / MA20: | -1.25% | |
| Price / MA50: | -4.42% | |
| Price / MA100: | -8.15% | |
| Price / MAexp7: | +0.45% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | -0.50% | |
| Price / MAexp100: | -0.71% |
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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