BITCOIN - BTC/USD - 1H - Technical analysis published on 12/23/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 7,420.15 USD
My targets
8,016.52 USD (+5.97%)
8,590.52 USD (+13.56%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BITCOIN - BTC/USD as long as the price remains well above 7,420.15 USD. The buyers” bullish objective is set at 8,016.52 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8,590.52 USD. If there is any crossing, the next objective would be the resistance located at 9,501.50 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
9.1
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This analysis was given by renodonor. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USD price is 7,564.71 USD. On the day, this instrument gained +0.73% and was between 7,510.32 USD and 7,593.86 USD. This implies that the price is at +0.72% from its lowest and at -0.38% from its highest.7,510.32
7,593.86
7,564.71
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BITCOIN - BTC/USD chart shows a strongly 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : 1 hour
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 3
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
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 | 7,224.03 | 7,300.52 | 7,420.15 | 7,564.71 | 9,501.50 | 10,627.40 | 11,988.10 |
| Change (%) | -4.50% | -3.49% | -1.91% | - | +25.60% | +40.49% | +58.47% |
| Change | -340.68 | -264.19 | -144.56 | - | +1,936.79 | +3,062.69 | +4,423.39 |
| Level | Intermediate | Minor | Major | - | Intermediate | Minor | Intermediate |
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 | 6,851.84 | 6,987.94 | 7,249.11 | 7,385.21 | 7,646.38 | 7,782.48 | 8,043.65 |
| Camarilla | 7,401.04 | 7,437.46 | 7,473.87 | 7,510.29 | 7,546.71 | 7,583.12 | 7,619.54 |
| Woodie | 6,914.39 | 7,019.21 | 7,311.66 | 7,416.48 | 7,708.93 | 7,813.75 | 8,106.20 |
| Fibonacci | 6,987.94 | 7,139.69 | 7,233.45 | 7,385.21 | 7,536.96 | 7,630.72 | 7,782.48 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,560.10 | 5,996.24 | 6,570.24 | 7,006.38 | 7,580.38 | 8,016.52 | 8,590.52 |
| Camarilla | 6,866.44 | 6,959.04 | 7,051.63 | 7,144.23 | 7,236.83 | 7,329.42 | 7,422.02 |
| Woodie | 5,629.02 | 6,030.71 | 6,639.16 | 7,040.85 | 7,649.30 | 8,050.98 | 8,659.44 |
| Fibonacci | 5,996.24 | 6,382.12 | 6,620.51 | 7,006.38 | 7,392.26 | 7,630.65 | 8,016.52 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,120.32 | 4,823.29 | 6,191.10 | 7,894.07 | 9,261.88 | 10,964.85 | 12,332.66 |
| Camarilla | 6,714.44 | 6,995.92 | 7,277.41 | 7,558.90 | 7,840.39 | 8,121.88 | 8,403.36 |
| Woodie | 2,952.73 | 4,739.50 | 6,023.51 | 7,810.28 | 9,094.29 | 10,881.06 | 12,165.07 |
| Fibonacci | 4,823.29 | 5,996.33 | 6,721.04 | 7,894.07 | 9,067.11 | 9,791.82 | 10,964.85 |
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): | 90.05 | |
| MACD (12,26,9): | 90.9600 | |
| Directional Movement: | 45.02 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 7,423.30 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,344.87 | |
| Elder Ray (13): | 177.80 | |
| Super Trend (3,10): | 7,368.18 | |
| Zig ZAG (10): | 7,586.18 | |
| VORTEX (21): | 1.3300 | |
| Stochastique (14,3,5): | 91.75 | |
| TEMA (21): | 7,484.02 | |
| Williams %R (14): | -8.51 | |
| Chande Momentum Oscillator (20): | 388.89 | |
| Repulse (5,40,3): | 2.0100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1100 | |
| Courbe Coppock: | 7.68 |
| MA7: | 7,106.58 | |
| MA20: | 7,243.05 | |
| MA50: | 7,783.57 | |
| MA100: | 8,257.18 | |
| MAexp7: | 7,393.38 | |
| MAexp20: | 7,317.99 | |
| MAexp50: | 7,227.81 | |
| MAexp100: | 7,162.02 | |
| Price / MA7: | +6.45% | |
| Price / MA20: | +4.44% | |
| Price / MA50: | -2.81% | |
| Price / MA100: | -8.39% | |
| Price / MAexp7: | +2.32% | |
| Price / MAexp20: | +3.37% | |
| Price / MAexp50: | +4.66% | |
| Price / MAexp100: | +5.62% |
This member declared not having a position on this financial instrument or a related financial instrument.
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