Bitcoin (BTC.CPT)

Close: 62 094.00 (+1 542.97), Sep 19, 2024
Weak Positive

Medium risk

chart Bitcoin (BTC) Candlesticks 22 Days
Candlesticks
chart Bitcoin (BTC) Short term
Short term: Positive
chart Bitcoin (BTC) Medium term
Medium term: Hold
chart Bitcoin (BTC) Long term
Long term: Weak Positive
chart Bitcoin (BTC)
RSI - Relative Strength Index

Short term

Bitcoin is within an approximate horizontal trend channel in the short term, which indicates further development in the same direction. The currency has broken up through resistance at points 61400. This predicts a further rise. In case of negative reactions, there will now be support at points 61400. The currency is assessed as technically positive for the short term.

Recommendation one to six weeks: Positive (Score: 65)

Medium term

Bitcoin is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The currency is moving within a rectangle formation between support at 53476 and resistance at 67969. A decisive break through one of these levels indicates the new direction for the currency. The currency has support at points 55000 and resistance at points 71000. Volume has previously been low at price tops and high at price bottoms. This weakens the currency and indicates increased chance of a break down. The RSI curve shows a rising trend, which is an early signal of a possible trend reversal upwards for the price as well. The currency is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold (Score: -21)

Long term

Bitcoin is in a rising trend channel in the long term. This signals increasing optimism among investors and indicates continued rise. The currency is moving within a rectangle formation between support at 53476 and resistance at 67969. A decisive break through one of these levels indicates the new direction for the currency. The currency is between support at points 53000 and resistance at points 71000. A definitive break through of one of these levels predicts the new direction. The RSI curve shows a rising trend, which supports the positive trend. The currency is overall assessed as technically slightly positive for the long term.

Recommendation one to six quarters: Weak Positive (Score: 38)


Overall analysis

Bitcoin is technically positive for the short and long term, and neutral for the medium term.

Recommendation one to six months: Weak Positive (Score: 44)

Period  
 Vol.bal. Volatility Liquidity +/- %
1 day-1.85%30 021.95+2.55%
5 days37.306.31%19 035.36+2.86%
22 days-2.1617.86%19 079.09+4.21%
66 days-20.8739.81%19 464.88-1.01%
 


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

Data:


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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