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:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 95,104.97 USD
My targets
91,902.37 USD (-1.87%)
84,237.31 USD (-10.05%)
My analysis
The bearish trend is currently very strong for BITCOIN - BTC/USD. As long as the price remains below the resistance at 95,104.97 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 91,902.37 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 84,237.31 USD as an objective. Crossing it would then enable sellers to target 73,118.00 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.3
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This analysis was given by Bibi. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 93,649.66 USD. On the day, this instrument lost -1.57% and was traded between 93,207.46 USD and 95,196.99 USD over the period. The price is currently at +0.47% from its lowest and -1.63% from its highest.93,207.46
95,196.99
93,649.66
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BITCOIN - BTC/USD:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BITCOIN - BTC/USD chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 2
Type : Neutral
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
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 | 73,118.00 | 91,902.37 | 93,289.58 | 93,649.66 | 95,104.97 | 96,657.91 | 97,310.46 |
| Change (%) | -21.92% | -1.87% | -0.38% | - | +1.55% | +3.21% | +3.91% |
| Change | -20,531.66 | -1,747.29 | -360.08 | - | +1,455.31 | +3,008.25 | +3,660.80 |
| 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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 24.35 | |
| MACD (12,26,9): | -338.8400 | |
| Directional Movement: | -28.45 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 93,959.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 95,038.78 | |
| Elder Ray (13): | -674.39 | |
| Super Trend (3,10): | 94,552.77 | |
| Zig ZAG (10): | 93,464.48 | |
| VORTEX (21): | 0.7800 | |
| Stochastique (14,3,5): | 7.85 | |
| TEMA (21): | 93,689.77 | |
| Williams %R (14): | -93.33 | |
| Chande Momentum Oscillator (20): | -1,605.11 | |
| Repulse (5,40,3): | -0.5300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 2.48 |
| MA7: | 95,873.75 | |
| MA20: | 98,808.04 | |
| MA50: | 96,141.47 | |
| MA100: | 81,333.02 | |
| MAexp7: | 93,794.08 | |
| MAexp20: | 94,318.00 | |
| MAexp50: | 94,727.13 | |
| MAexp100: | 95,256.90 | |
| Price / MA7: | -2.32% | |
| Price / MA20: | -5.22% | |
| Price / MA50: | -2.59% | |
| Price / MA100: | +15.14% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | -0.71% | |
| Price / MAexp50: | -1.14% | |
| Price / MAexp100: | -1.69% |
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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