Bitcoin (BTC.CPT)

Close: 61 958.00 (-71.08), Apr 19, 2024
Weak Negative

Medium risk

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

Short term

Bitcoin has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The currency gave a negative signal from the double top formation by the break down through the support at 65614. Further fall to 60766 or lower is signaled. The currency is testing support at points 61700. This could give a positive reaction, but a downward breakthrough of points 61700 means a negative signal. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. The currency is overall assessed as technically slightly negative for the short term.

Recommendation one to six weeks: Weak Negative (Score: -33)

Medium term

Bitcoin is in a rising trend channel in the medium long term. This shows that investors over time have bought the currency at higher prices and indicates good development for the currency. The currency gave a negative signal from the double top formation by the break down through the support at 65614. Further fall to 60766 or lower is signaled. The currency has support at points 40000 and resistance at points 73000. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. The currency is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold (Score: -9)

Long term

Bitcoin has broken up through the ceiling of the rising trend channel in the long term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. The currency has marginally broken down through support at points 66000. An established break predicts a further decline. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. The currency is overall assessed as technically neutral for the long term.

Recommendation one to six quarters: Hold (Score: -16)


Overall analysis

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

Recommendation one to six months: Weak Negative (Score: -32)

Period  
 Vol.bal. Volatility Liquidity +/- %
1 day-1.62%27 908.55-0.11%
5 days-88.895.51%27 298.48-2.33%
22 days-72.5715.29%22 707.03-11.18%
66 days5.2636.43%27 080.18+24.08%
 


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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