BITCOIN - BTC/USD - 1H - Technical analysis published on 12/29/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
28%
22%
50%
My opinion
Bearish under 95,104.97 USD
My targets
93,289.58 USD (-1.30%)
91,902.37 USD (-2.76%)
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 95,104.97 USD. The next bearish objective for sellers is set at 93,289.58 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 91,902.37 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, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.8
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.
This analysis was given by Bibi. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BITCOIN - BTC/USD rating 94,514.45 USD. The price is lower by -0.66% since the last closing and was traded between 93,919.33 USD and 95,196.99 USD over the period. The price is currently at +0.63% from its lowest and -0.72% from its highest.93,919.33
95,196.99
94,514.45
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
A study of price movements over other periods shows the following variations:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BITCOIN - BTC/USD indicates that the overall trend is strongly bearish. The signals given by moving averages are 85.71% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
On the 18 technical indicators analysed, 5 are bullish, 9 are neutral and 4 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 73,118.00 | 91,902.37 | 93,289.58 | 94,514.45 | 95,104.97 | 96,657.91 | 97,310.46 |
| Change (%) | -22.64% | -2.76% | -1.30% | - | +0.62% | +2.27% | +2.96% |
| Change | -21,396.45 | -2,612.08 | -1,224.87 | - | +590.52 | +2,143.46 | +2,796.01 |
| Level | Major | Intermediate | Intermediate | - | Minor | Intermediate | 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 | 92,738.98 | 93,374.50 | 94,257.29 | 94,892.81 | 95,775.60 | 96,411.12 | 97,293.91 |
| Camarilla | 94,722.56 | 94,861.73 | 95,000.91 | 95,140.09 | 95,279.27 | 95,418.45 | 95,557.63 |
| Woodie | 92,862.63 | 93,436.32 | 94,380.94 | 94,954.63 | 95,899.25 | 96,472.94 | 97,417.56 |
| Fibonacci | 93,374.50 | 93,954.49 | 94,312.81 | 94,892.81 | 95,472.80 | 95,831.12 | 96,411.12 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 84,237.31 | 88,315.19 | 91,727.64 | 95,805.52 | 99,217.97 | 103,295.85 | 106,708.30 |
| Camarilla | 93,080.25 | 93,766.86 | 94,453.48 | 95,140.09 | 95,826.70 | 96,513.32 | 97,199.93 |
| Woodie | 83,904.60 | 88,148.83 | 91,394.93 | 95,639.16 | 98,885.26 | 103,129.49 | 106,375.59 |
| Fibonacci | 88,315.19 | 91,176.50 | 92,944.21 | 95,805.52 | 98,666.83 | 100,434.54 | 103,295.85 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 58,883.06 | 67,715.05 | 82,094.05 | 90,926.04 | 105,305.04 | 114,137.03 | 128,516.03 |
| Camarilla | 90,090.02 | 92,217.69 | 94,345.37 | 96,473.04 | 98,600.71 | 100,728.39 | 102,856.06 |
| Woodie | 61,656.56 | 69,101.80 | 84,867.55 | 92,312.79 | 108,078.54 | 115,523.78 | 131,289.53 |
| Fibonacci | 67,715.05 | 76,581.65 | 82,059.45 | 90,926.04 | 99,792.64 | 105,270.44 | 114,137.03 |
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): | 46.34 | |
| MACD (12,26,9): | 11.2900 | |
| Directional Movement: | -2.10 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 94,908.53 | |
| Parabolic SAR (0,02-0,02-0,2): | 94,508.15 | |
| Elder Ray (13): | -115.11 | |
| Super Trend (3,10): | 95,506.66 | |
| Zig ZAG (10): | 94,804.83 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 33.37 | |
| TEMA (21): | 95,016.23 | |
| Williams %R (14): | -33.46 | |
| Chande Momentum Oscillator (20): | -71.89 | |
| Repulse (5,40,3): | 0.1800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.09 |
| MA7: | 96,098.19 | |
| MA20: | 98,874.92 | |
| MA50: | 96,167.77 | |
| MA100: | 81,346.31 | |
| MAexp7: | 94,910.31 | |
| MAexp20: | 94,881.95 | |
| MAexp50: | 95,019.09 | |
| MAexp100: | 95,463.49 | |
| Price / MA7: | -1.65% | |
| Price / MA20: | -4.41% | |
| Price / MA50: | -1.72% | |
| Price / MA100: | +16.19% | |
| Price / MAexp7: | -0.42% | |
| Price / MAexp20: | -0.39% | |
| Price / MAexp50: | -0.53% | |
| Price / MAexp100: | -0.99% |
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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