BITCOIN - BTC/USD - 1H - Technical analysis published on 12/21/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
28%
39%
33%
My opinion
Bearish under 99,008.00 USD
My targets
95,568.84 USD (-1.75%)
92,156.73 USD (-5.26%)
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 99,008.00 USD. The next bearish objective for sellers is set at 95,568.84 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 92,156.73 USD. If there is any crossing, the next objective would be the support located at 73,118.00 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5.4
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 Ghulam. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD rating is 97,269.02 USD. The price is lower by -0.51% since the last closing with the lowest point at 96,376.66 USD and the highest point at 99,531.12 USD. The deviation from the price is +0.93% for the low point and -2.27% for the high point.96,376.66
99,531.12
97,269.02
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
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BITCOIN - BTC/USD chart shows a sharp bearish trend. 85.71% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 6 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 over 0
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish doji star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 73,118.00 | 92,156.73 | 95,568.84 | 97,269.02 | 97,722.39 | 99,008.00 | 102,686.20 |
| Change (%) | -24.83% | -5.26% | -1.75% | - | +0.47% | +1.79% | +5.57% |
| Change | -24,151.02 | -5,112.29 | -1,700.18 | - | +453.37 | +1,738.98 | +5,417.18 |
| Level | Major | Intermediate | Minor | - | Minor | Intermediate | Major |
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 | 87,937.37 | 90,047.05 | 93,908.12 | 96,017.80 | 99,878.87 | 101,988.55 | 105,849.62 |
| Camarilla | 96,127.23 | 96,674.55 | 97,221.87 | 97,769.19 | 98,316.51 | 98,863.83 | 99,411.15 |
| Woodie | 88,813.07 | 90,484.90 | 94,783.82 | 96,455.65 | 100,754.57 | 102,426.40 | 106,725.32 |
| Fibonacci | 90,047.05 | 92,327.88 | 93,736.97 | 96,017.80 | 98,298.63 | 99,707.72 | 101,988.55 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 48.04 | |
| MACD (12,26,9): | 131.2200 | |
| Directional Movement: | -7.54 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 97,798.27 | |
| Parabolic SAR (0,02-0,02-0,2): | 99,217.65 | |
| Elder Ray (13): | -378.24 | |
| Super Trend (3,10): | 96,411.68 | |
| Zig ZAG (10): | 97,421.41 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 22.12 | |
| TEMA (21): | 98,245.13 | |
| Williams %R (14): | -62.72 | |
| Chande Momentum Oscillator (20): | 216.73 | |
| Repulse (5,40,3): | 0.1000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 1.39 |
| MA7: | 101,354.90 | |
| MA20: | 99,799.17 | |
| MA50: | 92,420.86 | |
| MA100: | 78,533.55 | |
| MAexp7: | 97,747.33 | |
| MAexp20: | 97,638.18 | |
| MAexp50: | 98,149.16 | |
| MAexp100: | 99,577.84 | |
| Price / MA7: | -4.03% | |
| Price / MA20: | -2.54% | |
| Price / MA50: | +5.25% | |
| Price / MA100: | +23.86% | |
| Price / MAexp7: | -0.49% | |
| Price / MAexp20: | -0.38% | |
| Price / MAexp50: | -0.90% | |
| Price / MAexp100: | -2.32% |
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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