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
22%
67%
11%
My opinion
Bearish under 95,104.97 USD
My targets
91,902.37 USD (-1.93%)
84,237.31 USD (-10.11%)
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 not called into question, despite technical indicators being neutral.
Force
0
10
7.5
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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 93,711.97 USD. On the day, this instrument lost -1.50% with the lowest point at 93,207.46 USD and the highest point at 95,196.99 USD. The deviation from the price is +0.54% for the low point and -1.56% for the high point.93,207.46
95,196.99
93,711.97
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
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 BITCOIN - BTC/USD in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 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:
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 | 93,711.97 | 95,104.97 | 96,657.91 | 97,310.46 |
| Change (%) | -21.98% | -1.93% | -0.45% | - | +1.49% | +3.14% | +3.84% |
| Change | -20,593.97 | -1,809.60 | -422.39 | - | +1,393.00 | +2,945.94 | +3,598.49 |
| 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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 31.30 | |
| MACD (12,26,9): | -334.6200 | |
| Directional Movement: | -26.63 | |
| AROON (14): | -85.72 | |
| DEMA (21): | 93,907.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 94,855.65 | |
| Elder Ray (13): | -437.95 | |
| Super Trend (3,10): | 94,678.45 | |
| Zig ZAG (10): | 93,700.73 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 19.39 | |
| TEMA (21): | 93,682.42 | |
| Williams %R (14): | -74.19 | |
| Chande Momentum Oscillator (20): | -1,331.57 | |
| Repulse (5,40,3): | 0.1500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 2.54 |
| MA7: | 95,924.61 | |
| MA20: | 98,820.28 | |
| MA50: | 96,145.61 | |
| MA100: | 81,335.22 | |
| MAexp7: | 93,822.24 | |
| MAexp20: | 94,272.78 | |
| MAexp50: | 94,694.24 | |
| MAexp100: | 95,228.13 | |
| Price / MA7: | -2.31% | |
| Price / MA20: | -5.17% | |
| Price / MA50: | -2.53% | |
| Price / MA100: | +15.22% | |
| Price / MAexp7: | -0.12% | |
| Price / MAexp20: | -0.59% | |
| Price / MAexp50: | -1.04% | |
| Price / MAexp100: | -1.59% |
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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