Coin-Labs
  • 🏆 How We Rate Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • +100 Other Altcoins
  • +30 Exchange Review
    • Binance Review
    • Coinbase Review
    • Bybit Review
    • Gate.io Review
    • Crypto.com Review
    • Kraken Review
    • Bitget Review
    • OKX Review
    • Huobi Review
  • 🔥 Crypto Analysis Today
    • Bitcoin Analysis
    • Ethereum Analysis
  • Blog
  • USA
    • South Korea
  • USA
    • South Korea
  1. Home
  2. Cryptocurrency Analysis
  3. Bitcoin Analysis
Searching...

Table of Contents

  1. What is Bitcoin Analysis?
    1. What is Bitcoin Technical Analysis?
  2. Why is Bitcoin Analysis Critical in Trading Cryptos?
  3. Five Best Technical Analysis Indicators for Bitcoin Trading
    1. What are Indicators?
    2. Best Indicators for Bitcoin Trading.
    3. 1. Relative Strength Index (RSI)
      1. Utilizing the RSI Indicator
      2. Why RSI
    4. 2. Ichimoku Cloud
      1. Why Ichimoku Cloud
    5. 3. Supertrend
      1. Supertrend and Moving Average Crossover Trading Strategy
      2. Why Super Trend Indicator
    6. 4. Linear Regression
      1. Why Linear Regression Indicator
    7. 5. Fibonacci Retracement
      1. What are Fibonacci Retracement Levels?
      2. Why is the Fibonacci Retracement Indicator
  4. Should I Buy Bitcoin, according to the Technical Analysis?
  5. FAQs

Can't find information?

Don't worry, We'll find it for you 🧐

Trading Fees Ultimate Discount

Coupons for top3 crypto exchanges in March. (Discount code auto-filled)

Bybit | 20%

Huobi Global | 30%

Bitget | 20%

Bitcoin Analysis

Table of Contents
  1. What is Bitcoin Analysis?
    1. What is Bitcoin Technical Analysis?
  2. Why is Bitcoin Analysis Critical in Trading Cryptos?
  3. Five Best Technical Analysis Indicators for Bitcoin Trading
    1. What are Indicators?
    2. Best Indicators for Bitcoin Trading.
    3. 1. Relative Strength Index (RSI)
      1. Utilizing the RSI Indicator
      2. Why RSI
    4. 2. Ichimoku Cloud
      1. Why Ichimoku Cloud
    5. 3. Supertrend
      1. Supertrend and Moving Average Crossover Trading Strategy
      2. Why Super Trend Indicator
    6. 4. Linear Regression
      1. Why Linear Regression Indicator
    7. 5. Fibonacci Retracement
      1. What are Fibonacci Retracement Levels?
      2. Why is the Fibonacci Retracement Indicator
  4. Should I Buy Bitcoin, according to the Technical Analysis?
  5. FAQs

Are you wondering if you should buy Bitcoin or sell it? 🤔
Before buying or selling , check out Coin Lab's Bitcoin analysis results and make the best decision!

The Bitcoin analysis data at the bottom are real-time calculations and interpretations of various technical analysis indicators used by investment experts.

User Notice 🛎️

  • This Bitcoin analysis was conducted based on the one hour chart.
  • You can check the analysis results for each pair, such as USDT and BTC.
  • This Bitcoin analysis is based on chart data from Gate.io and Binance.

🎁 Trading Fee 30% Off 🎁

   Trade Bitcoin with Buy/Sell Data!   

Should I Buy Bitcoin?

Thirty-two famous technical analysis indicators show you the answer whether you should buy Bitcoin or not.

  • BTC/USDT Analysis
  • BTC/BUSD Analysis
  • 15m
  • 1h
  • 4h
  • 1d
  • 1w

BTC/USDT Technical Analysis Live

😀 47.62% Buy!

23.81% Sell..

Last updated : 2023-03-30 12:21:58pm

Buy/Sell Opinions💡

All of the technical analysis indicators below show the buy/sell opinions of BTC/USDT.

Technical Analysis Indicators Calculated Values Opinions
Commodity Channel Index (CCI) 101.4840 Buy
Chaikin Money Flow (CMF) 0.0945 Sell
Fibonacci Retracement UPTREND / 27,606.9878 Buy
🔥 Ichimoku Cloud SpanA : 28,441.8125
SpanB : 27,908.2300
Conversion : 28,642.79
Buy
Moving Average Convergence & Divergence (MACD) -11.8037 Sell
Pivot Points 28,519.4033 Buy
Relative Strength Index (RSI) 56.708120 N/A
Stochastic RSI K : 25.5331
D : 22.2294
N/A
🔥 Supertrend 27,906.6310 Buy
Triple Exponential Average (TRIX) 0.0594 Buy
Ultimate Oscillator (UO) 51.2563 N/A
Chande Momentum Oscillator (CMO) 1.2606 N/A
KDJ K : 50.4853
D : 54.7251
J : 42.0056
N/A
Absolute Price Oscillator (APO) 163.5977 Buy
Aroon Oscillator AROON UP : 92.8571
AROON DOWN : 100.0000
Sell
🔥 Linear Regression 28,530.0440 Sell
MESA Adaptive Moving Average (MAMA) MAMA : 28,375.3582
FAMA : 28,151.2441
Buy
Percentage Price Oscillator (PPO) 0.5796 Buy
Rate of Change (ROC) 0.7161 Buy
Williams %R (WillR) -58.1589 N/A
Time Series Forecasting (TSF) 28,580.8510 Sell

Trend Analysis Data💡

The trend analysis indicators below show the live trend of BTC/USDT.

Trend Analysis Indicators Calculated Values Value Interpretation
Bollinger Bands Upper band : 28,709.6216
Middle band : 28,396.0065
Lower band : 28,082.3914
Directional Movement Index (DMI) ADX : 44.1757
+DI : 30.9509
-DI : 13.2857
Very Strong Trend
Doji Candle Pattern 0.0000
Money Flow Index (MFI) 43.3893
Momentum 302.0300
🔥 Parabolic SAR (PSAR) 29,184.6800 Downtrend
Stalled Pattern 0.0000 Three White Soldiers Not Found
Standard Deviation 242.2291
Tom DeMark Sequential Buy countdown : 0
Sell countdown : 7
Bullish Belt Hold 0.0000
Long Legged Doji 0.0000
Average True Range (ATR) 301.5267
A cell with no interpretation indicates a neutral trend or no reversal.

Price Data of BTC/USDT

These are the price data used for BTC/USDT analysis above.

Price Analysis 📊

Open Close High Low Volume
28,964.76 28,554.36 29,002.67 28,100.89 12,380.35

Other Essential Price Data 📝

Candlestick Price Data Calculated Values Note
Weighted Close Price 28,553.0700 (High + Low + Close * 2 ) / 4
Median Price 28,551.7800 (High + Low ) / 2
Volume Weighted Average Price (VWAP) 27,655.3078 (Cumulative Typical Price x Volume) / Cumulative Volume
Beta 0.2230 Covariance / Variance
Pearson’s Correlation Coefficient 0.9163 1 >= r >= -1
  • 15m
  • 1h
  • 4h
  • 1d
  • 1w

BTC/BUSD Technical Analysis Live

😀 47.62% Buy!

23.81% Sell..

Last updated : 2023-03-30 12:25:55pm

Buy/Sell Opinions💡

All of the technical analysis indicators below show the buy/sell opinions of BTC/BUSD.

Technical Analysis Indicators Calculated Values Opinions
Commodity Channel Index (CCI) 94.2189 Buy
Chaikin Money Flow (CMF) 0.0967 Sell
Fibonacci Retracement UPTREND / 27,614.3681 Buy
🔥 Ichimoku Cloud SpanA : 28,451.5400
SpanB : 27,914.8350
Conversion : 28,654.32
Buy
Moving Average Convergence & Divergence (MACD) -14.3055 Sell
Pivot Points 28,513.0267 Buy
Relative Strength Index (RSI) 55.573850 N/A
Stochastic RSI K : 25.9233
D : 22.8274
N/A
🔥 Supertrend 27,922.8655 Buy
Triple Exponential Average (TRIX) 0.0581 Buy
Ultimate Oscillator (UO) 49.5096 N/A
Chande Momentum Oscillator (CMO) -0.6732 N/A
KDJ K : 48.6859
D : 53.9316
J : 38.1944
N/A
Absolute Price Oscillator (APO) 158.8388 Buy
Aroon Oscillator AROON UP : 92.8571
AROON DOWN : 100.0000
Sell
🔥 Linear Regression 28,524.5637 Sell
MESA Adaptive Moving Average (MAMA) MAMA : 28,378.1538
FAMA : 28,164.8349
Buy
Percentage Price Oscillator (PPO) 0.5627 Buy
Rate of Change (ROC) 0.5639 Buy
Williams %R (WillR) -61.1549 N/A
Time Series Forecasting (TSF) 28,578.9739 Sell

Trend Analysis Data💡

The trend analysis indicators below show the live trend of BTC/BUSD.

Trend Analysis Indicators Calculated Values Value Interpretation
Bollinger Bands Upper band : 28,710.9553
Middle band : 28,400.2395
Lower band : 28,089.5237
Directional Movement Index (DMI) ADX : 44.0874
+DI : 31.3544
-DI : 13.2905
Very Strong Trend
Doji Candle Pattern 0.0000
Money Flow Index (MFI) 44.3890
Momentum 275.5800
🔥 Parabolic SAR (PSAR) 29,188.0000 Downtrend
Stalled Pattern 0.0000 Three White Soldiers Not Found
Standard Deviation 240.6393
Tom DeMark Sequential Buy countdown : 0
Sell countdown : 7
Bullish Belt Hold 0.0000
Long Legged Doji 0.0000
Average True Range (ATR) 297.1231
A cell with no interpretation indicates a neutral trend or no reversal.

Price Data of BTC/BUSD

These are the price data used for BTC/BUSD analysis above.

Price Analysis 📊

Open Close High Low Volume
28,968.64 28,531.57 29,003.12 28,114.61 3,161.87

Other Essential Price Data 📝

Candlestick Price Data Calculated Values Note
Weighted Close Price 28,545.2175 (High + Low + Close * 2 ) / 4
Median Price 28,558.8650 (High + Low ) / 2
Volume Weighted Average Price (VWAP) 27,691.8845 (Cumulative Typical Price x Volume) / Cumulative Volume
Beta 0.2217 Covariance / Variance
Pearson’s Correlation Coefficient 0.9162 1 >= r >= -1

The data and opinions provided above are only the results of Bitcoin chart analysis, and they are objective data interpreted according to each indicator standard.
Therefore, investors are fully responsible for their investment decisions and losses in Bitcoin.

What is Bitcoin Analysis?

Bitcoin analysis evaluates the bitcoin market to follow trends, develop forecasts, and profit from these behaviors. Traders of cryptocurrencies already have some strategies for this. One of them is Bitcoin technical analysis, which examines the records of all cryptocurrencies, including price charts and trading volumes, regardless of the chosen virtual currency.

Bitcoin analysis employs the principles of price history patterns and technical analysis to study the charts and forecast future price movements.

This applies to any marketplace, including digital currencies like Bitcoin (BTC).

What is Bitcoin Technical Analysis?

Bitcoin is a digital currency and a payment method used as a virtual currency on the Internet. It enables secret payments from one person to another and is a preferred payment method for online money transfer. However, it is essential to note that established businesses are increasingly accepting bitcoins.

Bitcoin technical analysis is one way to analyze BTC price trends. Technical analysis of bitcoin is used to forecast the future price movement of bitcoin by examining its past price action and volume data — TA focuses on assessing the historical trading activities and chart patterns to identify trends and trading opportunities.

비트코인 분석

In the cryptocurrency market, technical analysis is equally applicable; the same ideas apply to bitcoin. By analyzing crypto charts with technical indicators, traders and investors can determine the market sentiment and how the values of cryptocurrencies will be impacted.

Utilizing your technical and analytical abilities is more important if you want to invest in Bitcoin to grow your profit than with traditional ways. Technical analysis employs historical price patterns and technical indicators to evaluate price charts and forecasts future price movements.

Bitcoins are unlicensed, and their value can fluctuate substantially. The secrecy of the transaction, however, makes it a favorite instrument for illicit undertakings, particularly by Internet-based criminals.

Why is Bitcoin Analysis Critical in Trading Cryptos?

Bitcoin is one of the prominent cryptocurrencies nowadays. Bitcoin investment requires an understanding of its technical analysis. Without technical analysis skills, trading cryptocurrency becomes a risky game of chance. Technical analysis knowledge is necessary if an investor wishes to trade cryptocurrencies like Bitcoin.

Knowing and understanding how to apply technical analysis correctly is fundamental whether they intend to actively trade cryptocurrencies or invest in them over the long term.

In technical analysis, the main goal is to help traders analyze the past performance of a trading instrument and predict what may happen in the future. A trader who uses technical analysis will evaluate the price fluctuation, volume data, price levels, and trading sessions to hedge the investment risks of Bitcoin.

While technical analysts generally observe and interpret the price movements and patterns formed in the past to formulate trading ideas to forecast the next price trend.

TA of Bitcoin is a standard analysis used to assess stocks and other assets in traditional financial markets. However, it is also an essential component of digital trading assets in the crypto market. Technical analysis is quick and easy to understand, but it requires discipline and dedication to master it.

Five Best Technical Analysis Indicators for Bitcoin Trading

What are Indicators?

Traders utilize indicators to predict the future direction of the market. They have the potential to demonstrate patterns of price behavior. Then, strategies might be developed to capitalize on these trends. In addition, they are utilized to monitor any news or changes in other marketplaces that may influence the price.

Best Indicators for Bitcoin Trading.

Since the inception of trading, trading indicators have been created to serve as a valuable tool that enables traders to make informed forecasts regarding their positions. Moreover, this development has continued alongside the growth of crypto.

Historically, bitcoin trading consisted of purchasing and selling cryptocurrencies on an exchange. However, you can also speculate on the price swings of bitcoin using CFDs. These are a form of derivative, which means that you will take a position on market movements without owning the underlying coins. For this, you will need for technical analysis platform. Here are some best technical analysis indicators for bitcoin trading.

1. Relative Strength Index (RSI)

The RSI is a momentum indicator representing outcomes on a scale from 1 to 100. It shows which assets are overbought and which are oversold. If the RSI moves below 30, it shows that the price is under pressure to go down. Also, when the RSI indicator goes into the oversold zone above 70, an asset has been bought too much, and its price may bounce.

Long periods of overbuying or overselling are possible. Because RSI is a momentum indicator. So, like most other technical indicators, RSI signals work better and are more reliable when they are based on long-term trends and combined with different hands.

Utilizing the RSI Indicator

There are multiple ways to employ the RSI indicator in technical analysis. Here are the most general approaches:

  • Divergence happens when the market and the relative strength index (RSI) move in different directions. This may indicate a trend reversal.
  • The RSI is capable of identifying oversold and overbought market conditions. Readings under 30 may indicate oversold, while readings over 70 may indicate overbuying.
Five Best Technical Analysis Indicators for Bitcoin Trading 1

Why RSI

Since the indicator reflects momentum, it can remain overbought or oversold for an extended period when an asset has substantial speed in either trend. Therefore, the RSI is most effective in a fluctuating market (a trading range) where the asset price oscillates between bearish and bullish moves.


2. Ichimoku Cloud

Ichimoku cloud, also called Ichimoku Kinko Hyo, is quite a visual indicator efficient for crypto trading. It is a combination of technical indicators that explicitly utilize support and resistance levels to indicate a crypto market’s inclusive strength and direction. It comes with five main components of lines, namely:

  • Lagging Span Line
  • Base Line
  • Conversion Line
  • Leading Span A
  • Leading Span B

These lines cross each other, creating a cloud. The trend is upward if the price projection breaks out of the cloud. However, the trend is down when the price moves below the cloud. A mono-directional movement indicates that the price would remain the same.

Why Ichimoku Cloud

Unlike other indicators, the Ichimoku Cloud indicator can give multiple confirmations that increase the probabilities for a good buy or sell signal. That is why, as mentioned before, this indicator can be used independently, whereas most hands work best in combinations.

Five Best Technical Analysis Indicators for Bitcoin Trading 2

3. Supertrend

As with moving averages, Super Trends are indicators that follow trends. It is a chart that may be overlaid on pricing to reveal the prevailing pattern. The needle is built with only two parameters (the “period” and “multiplier”), making it extremely easy to use.

The default settings for the Supertrend indicator’s strategy are an ATR of 10 and a multiplier of 3. Supertrend relies heavily on the actual average range (ATR) because it is the input used to derive the indicator’s value, indicating the level of price volatility.

Five Best Technical Analysis Indicators for Bitcoin Trading 3

Supertrend and Moving Average Crossover Trading Strategy

This trading strategy is comprised of Super Trend and the crossover of the 5 and 20 EMA. The Nifty index chart is shown down below. Green arrows represent a signal to buy, while red arrows indicate a signal to sell.

As seen in the chart, this kind of trading can be used to profit from large price swings by employing a stop loss with the assistance of a Super Trend.

Why Super Trend Indicator

  • Supertrend is a trend-following indicator most effective in a trending market. However, it also has the added benefits of being easy to use and providing buy and sell recommendations.
  • Like most trend-following indicators, In a trending market, Supertrend performs optimally; however, in a flat or choppy market, it produces whipsaws.
  • The indicator is reliable on all timeframes but shines on the longer ones.
  • Like most trend-following indicators, it is a lagging indicator.

4. Linear Regression

For visual learners, the linear regression indicator is represented as a graph. That is how it looks in the illustration as a channel created by parallel straight lines. Inside them is another straight line, located at the same distance from the harsh lines, showing the market’s price movement. The trader uses a frame to set the width of such a corridor. Price extremes relative to the developing trend are depicted by the higher and lower lines, respectively.

You can use this tool with any asset listed on the market. The lines drawn allow you to calculate the current price’s maximum, minimum, and average price movements, resulting in a price channel on the chart.

To begin, the value of the trending price is used to create a middle line, referred to as the “regression trend line.” The direction of the market trend determines the angle at which it is slanted. Next, the indicator draws two parallel lines, equally spaced, to represent price support and resistance over a predetermined time frame.

To create a virtual sales channel, you need to configure the indicator. This can be done in a few minutes, as the procedure is easy for beginners. The trader must correctly set the channel width.

Other settings help to give the created chart a digestible appearance that will be convenient to perceive visually. This is done using the Stop Color and Trend Line Color tools. With their help, visualization settings are set, and channel borders and prices are painted in specific colors.

Why Linear Regression Indicator

The basic principle of a linear indicator is that the price will change within the regression channel itself. Such a tool allows you to close and open trades while remembering that you cannot trade against the current trend. The Linear Regression Indicator displays the terminal points of linear regression created on successive days.

Five Best Technical Analysis Indicators for Bitcoin Trading 4

The Linear Regression Indicator outperforms the simple moving average because it exhibits less latency and reacts more rapidly to abrupt price shifts.


5. Fibonacci Retracement

Five Best Technical Analysis Indicators for Bitcoin Trading 5

Fibonacci retracement indicators are based on so-called retracements or periods in which the price swings counter to the trend before reversing course. These tremors only last for brief intervals. Calculated using the numbers in the Fibonacci sequence, the Fibonacci retracement displays retracements as a percentage. Each number in the Fibonacci numbers, from 0 to 11, combines the two preceding numbers in the sequence.

What are Fibonacci Retracement Levels?

Retracement levels are horizontal lines that originate from the Fibonacci sequence and indicate possible places of support and resistance.

A percentage value is assigned to each tier. The percentage indicates what proportion of the previous price movement has been retracted. The 23.6%, 38.2%, 61.8%, and 78.6% retracement levels are based on the Fibonacci sequence. Fifty percent is frequently used, even though it is not a Fibonacci ratio.

The indicator’s value lies in the fact that it may be drawn between extreme price points like a high and a low. Indicator levels will be generated between the inputted points.

Why is the Fibonacci Retracement Indicator

  • It can be quickly and easily implemented on a trading chart.
  • Because the levels are fixed (unlike the moving average indicator, for instance), traders will sit on their hands until the price reaches one of the established boundaries before taking action.
  • It applies to most assets.
  • Market movement can be confirmed by locating Fibonacci retracement support and resistance levels.
  • It gives the potential to predict purchase or sell points.

Should I Buy Bitcoin, according to the Technical Analysis?

Bitcoin has grabbed the world’s attention over the last decade, as it could represent a new form of decentralized money. The ability to have a trustless payment system without a third-party intermediary has many people betting on its bright future.

Bitcoin, the largest crypto by market capitalization, is an investment with considerable risk and volatility. It should only be undertaken if you have a high-risk tolerance, a solid financial situation, and the capability to lose any money invested.

Bitcoin traders may assess market mood, detect trends, and make more informed investment decisions using technical analysis. However, there are several more essential aspects they must consider. To begin with, technical analysis is a practical method focusing solely on a security’s price and volume.

Consequently, depending on technical analysis could force a trader to miss opportunities to purchase bitcoin when it is discounted or to buy the crypto tokens when the price may be overvalued, at least according to fundamentals. Bitcoin traders can mix fundamental and technical research to mitigate this risk.

Bitcoin is very volatile and carries considerable risk. Investing your entire savings in bitcoin is a terrible decision. If you are prepared to take the risk, you must first have a crypto investing strategy and an understanding of what you are buying. Also, ensure you are not buying simply because you fear missing out.

FAQs

  1. Does Technical Analysis work on Bitcoin?

    Yes, technical analysis works. Bitcoin and other cryptocurrencies are the “hot topic of the day.” This, in addition to the high appreciation of virtual currencies, which has attracted the investment community's attention, is due to the increased interest in blockchain technology by financial institutions.

  2. Do Real BTC Traders use Technical Analysis?

    Yes, BTC traders use technical analysis. Not just technical traders utilize technical analysis. Many fundamental traders utilize fundamental analysis to evaluate whether to buy into a market. However, once they have made this choice, they turn to technical analysis to identify appropriate, low-risk buy entry price points.

  3. How Accurate is Bitcoin Price Analysis?

    We do not know the future, and it would be wrong to think that we can know precisely what will happen. Bitcoin predictions – like all financial predictions – are often wrong, especially as they go further and further into the future. If an investor wishes to trade cryptocurrencies, however, knowledge of technical analysis is necessary.

Last Updated: March 10, 2023

About The Author

Andrew Kim

Editor In Chief @Coin-Labs. Provides crypto information that anyone can understand most easily and quickly.

Read more posts by Andrew Kim

Was it helpful?😀

Yes No

Related Posts

  • Ethereum Analysis
© 2023 Copyright Coin-Labs
  • About Us
  • Contact Us
  • Privacy Policy
Powered by
코인연구소
  • bitcoin Bitcoin (BTC) ₩ 37,215,309.75 4.15%
  • ethereum Ethereum (ETH) ₩ 2,333,989.76 0.49%
  • tether Tether (USDT) ₩ 1,305.25 -0.03%
  • bnb BNB (BNB) ₩ 408,493.52 -0.19%
  • usd-coin USD Coin (USDC) ₩ 1,304.89 0.00%
  • xrp XRP (XRP) ₩ 696.34 -0.38%
  • cardano Cardano (ADA) ₩ 495.56 0.49%
  • polygon Polygon (MATIC) ₩ 1,455.91 1.78%
  • dogecoin Dogecoin (DOGE) ₩ 97.95 1.43%
  • solana Solana (SOL) ₩ 27,514.91 2.07%
  • binance-usd Binance USD (BUSD) ₩ 1,304.58 -0.01%
  • polkadot-new Polkadot (DOT) ₩ 8,049.18 1.08%
  • litecoin Litecoin (LTC) ₩ 117,634.27 0.60%
  • shiba-inu Shiba Inu (SHIB) ₩ 0.01 0.79%
  • tron TRON (TRX) ₩ 83.81 -0.21%
  • avalanche Avalanche (AVAX) ₩ 22,454.11 2.48%
  • multi-collateral-dai Dai (DAI) ₩ 1,303.94 -0.02%
  • wrapped-bitcoin Wrapped Bitcoin (WBTC) ₩ 37,204,928.78 4.09%
  • chainlink Chainlink (LINK) ₩ 9,664.47 5.99%
  • uniswap Uniswap (UNI) ₩ 7,710.54 0.15%