BITCOIN - BTC/USD - 1H - Technical analysis published on 12/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 101,939.21 USD
My targets
104,600.58 USD (+1.57%)
107,798.20 USD (+4.67%)
My analysis
BITCOIN - BTC/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 101,939.21 USD. The next resistance located at 104,600.58 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 107,798.20 USD. After this resistance, buyers could then target 112,947.44 USD. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9
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This analysis was given by amrmoussa. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 102,986.23 USD. The price registered an increase of +1.56% on the session and was between 101,227.40 USD and 102,995.70 USD. This implies that the price is at +1.74% from its lowest and at -0.01% from its highest.101,227.40
102,995.70
102,986.23
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of BITCOIN - BTC/USD in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by 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 bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 99,008.00 | 100,506.41 | 101,939.21 | 102,986.23 |
| Change (%) | -3.86% | -2.41% | -1.02% | - |
| Change | -3,978.23 | -2,479.82 | -1,047.02 | - |
| Level | Intermediate | Intermediate | Intermediate | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 98,416.04 | 99,511.83 | 100,457.39 | 101,553.18 | 102,498.74 | 103,594.53 | 104,540.09 |
| Camarilla | 100,841.58 | 101,028.70 | 101,215.83 | 101,402.95 | 101,590.07 | 101,777.20 | 101,964.32 |
| Woodie | 98,340.93 | 99,474.27 | 100,382.28 | 101,515.62 | 102,423.63 | 103,556.97 | 104,464.98 |
| Fibonacci | 99,511.83 | 100,291.63 | 100,773.38 | 101,553.18 | 102,332.98 | 102,814.73 | 103,594.53 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 87,906.86 | 91,104.48 | 96,253.72 | 99,451.34 | 104,600.58 | 107,798.20 | 112,947.44 |
| Camarilla | 99,107.56 | 99,872.69 | 100,637.82 | 101,402.95 | 102,168.08 | 102,933.21 | 103,698.34 |
| Woodie | 88,882.66 | 91,592.39 | 97,229.52 | 99,939.25 | 105,576.38 | 108,286.11 | 113,923.24 |
| Fibonacci | 91,104.48 | 94,292.98 | 96,262.84 | 99,451.34 | 102,639.84 | 104,609.70 | 107,798.20 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42,633.51 | 54,715.41 | 75,594.23 | 87,676.13 | 108,554.95 | 120,636.85 | 141,515.67 |
| Camarilla | 87,408.84 | 90,430.24 | 93,451.64 | 96,473.04 | 99,494.44 | 102,515.84 | 105,537.24 |
| Woodie | 47,031.96 | 56,914.64 | 79,992.68 | 89,875.36 | 112,953.40 | 122,836.08 | 145,914.12 |
| Fibonacci | 54,715.41 | 67,306.41 | 75,085.14 | 87,676.13 | 100,267.13 | 108,045.86 | 120,636.85 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 63.60 | |
| MACD (12,26,9): | 295.5300 | |
| Directional Movement: | 17.61 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 102,269.82 | |
| Parabolic SAR (0,02-0,02-0,2): | 101,757.38 | |
| Elder Ray (13): | 586.18 | |
| Super Trend (3,10): | 101,460.51 | |
| Zig ZAG (10): | 102,706.33 | |
| VORTEX (21): | 1.1400 | |
| Stochastique (14,3,5): | 86.03 | |
| TEMA (21): | 102,403.57 | |
| Williams %R (14): | -6.79 | |
| Chande Momentum Oscillator (20): | 1,268.72 | |
| Repulse (5,40,3): | 0.6300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 2.04 |
| MA7: | 100,129.66 | |
| MA20: | 98,207.24 | |
| MA50: | 88,740.39 | |
| MA100: | 75,859.61 | |
| MAexp7: | 102,322.76 | |
| MAexp20: | 101,915.52 | |
| MAexp50: | 101,467.79 | |
| MAexp100: | 100,863.86 | |
| Price / MA7: | +2.85% | |
| Price / MA20: | +4.87% | |
| Price / MA50: | +16.05% | |
| Price / MA100: | +35.76% | |
| Price / MAexp7: | +0.65% | |
| Price / MAexp20: | +1.05% | |
| Price / MAexp50: | +1.50% | |
| Price / MAexp100: | +2.10% |
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.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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