BITCOIN - BTC/USD - Daily - Technical analysis published on 09/08/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 58,274.94 USD
My targets
50,742.68 USD (-7.25%)
47,352.27 USD (-13.45%)
My analysis
All elements being clearly 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 58,274.94 USD. The sellers' bearish objective is set at 50,742.68 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 47,352.27 USD. In case of crossing, the next objective would be the support located at 35,079.50 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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
8
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.
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Additional analysis
Quotes
BITCOIN - BTC/USD rating 54,709.48 USD. The price has increased by +1.00% since the last closing and was traded between 53,977.99 USD and 54,718.11 USD over the period. The price is currently at +1.36% from its lowest and -0.02% from its highest.53,977.99
54,718.11
54,709.48
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
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this BITCOIN - BTC/USD chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
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 : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
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 | 47,352.27 | 50,742.68 | 54,012.71 | 54,709.48 | 55,866.19 | 58,274.94 | 64,191.36 |
| Change (%) | -13.45% | -7.25% | -1.27% | - | +2.11% | +6.52% | +17.33% |
| Change | -7,357.21 | -3,966.80 | -696.77 | - | +1,156.71 | +3,565.46 | +9,481.88 |
| Level | Minor | Minor | 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 | 52,563.11 | 53,153.02 | 53,660.63 | 54,250.54 | 54,758.15 | 55,348.06 | 55,855.67 |
| Camarilla | 53,866.43 | 53,967.04 | 54,067.64 | 54,168.25 | 54,268.86 | 54,369.46 | 54,470.07 |
| Woodie | 52,521.97 | 53,132.45 | 53,619.49 | 54,229.97 | 54,717.01 | 55,327.49 | 55,814.53 |
| Fibonacci | 53,153.02 | 53,572.27 | 53,831.28 | 54,250.54 | 54,669.79 | 54,928.80 | 55,348.06 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 43,972.86 | 48,269.86 | 51,219.06 | 55,516.06 | 58,465.26 | 62,762.26 | 65,711.46 |
| Camarilla | 52,175.55 | 52,839.78 | 53,504.02 | 54,168.25 | 54,832.49 | 55,496.72 | 56,160.96 |
| Woodie | 43,298.95 | 47,932.91 | 50,545.15 | 55,179.11 | 57,791.35 | 62,425.31 | 65,037.55 |
| Fibonacci | 48,269.86 | 51,037.91 | 52,748.02 | 55,516.06 | 58,284.11 | 59,994.22 | 62,762.26 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 33,972.55 | 41,613.30 | 50,297.02 | 57,937.77 | 66,621.49 | 74,262.24 | 82,945.96 |
| Camarilla | 54,491.52 | 55,987.93 | 57,484.34 | 58,980.75 | 60,477.16 | 61,973.57 | 63,469.98 |
| Woodie | 34,494.05 | 41,874.04 | 50,818.52 | 58,198.51 | 67,142.99 | 74,522.98 | 83,467.46 |
| Fibonacci | 41,613.30 | 47,849.24 | 51,701.82 | 57,937.77 | 64,173.71 | 68,026.29 | 74,262.24 |
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): | 36.67 | |
| MACD (12,26,9): | -1,592.9000 | |
| Directional Movement: | -17.68 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 56,160.72 | |
| Parabolic SAR (0,02-0,02-0,2): | 61,626.23 | |
| Elder Ray (13): | -2,826.42 | |
| Super Trend (3,10): | 61,112.32 | |
| Zig ZAG (10): | 54,480.30 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 13.38 | |
| TEMA (21): | 55,209.65 | |
| Williams %R (14): | -83.99 | |
| Chande Momentum Oscillator (20): | -4,937.91 | |
| Repulse (5,40,3): | -2.4900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2200 | |
| Courbe Coppock: | 18.49 |
| MA7: | 56,201.26 | |
| MA20: | 59,131.88 | |
| MA50: | 60,853.62 | |
| MA100: | 62,321.09 | |
| MAexp7: | 55,835.60 | |
| MAexp20: | 57,992.87 | |
| MAexp50: | 59,900.96 | |
| MAexp100: | 61,004.33 | |
| Price / MA7: | -2.65% | |
| Price / MA20: | -7.48% | |
| Price / MA50: | -10.10% | |
| Price / MA100: | -12.21% | |
| Price / MAexp7: | -2.02% | |
| Price / MAexp20: | -5.66% | |
| Price / MAexp50: | -8.67% | |
| Price / MAexp100: | -10.32% |
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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