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Bitcoin

Check the daily chart of Bitcoin. The closing price of 2023-03-20 was USD 27,767 per share.

Bitcoin Daily Candlestick Chart

1. Trend Indicators

1.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Bitcoin Daily Moving Averages ChartBitcoin Daily Moving Averages Chart
1.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Let's take a look of the Moving Average Convergence/Divergence (MACD) of Bitcoin:

  • The Moving Average Convergence/Divergence (MACD) is 1,166.169. The Moving Average Convergence/Divergence (MACD) above zero is a bullish sign. +1
  • The MACD is higher than the signal line. This is a bullish indication. +1
Bitcoin Daily Moving Average Convergence/Divergence (MACD) ChartBitcoin Daily Moving Average Convergence/Divergence (MACD) Chart
1.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index).

The ADX helps you determine the strength of a trend. Let's take a look of the ADX of Bitcoin:

  • The ADX is 33.094. Strong Trend. +1
  • The ADX is rising, the current trend is strengthening. +1
  • The +DI is higher than the -DI. The current trend is up. +2
Bitcoin Daily Directional Movement Index (DMI) ChartBitcoin Daily Directional Movement Index (DMI) Chart
1.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..
  • The Parabolic SAR is lower than the price. The current trend is up. +2
  • Bitcoin Daily Parabolic SAR ChartBitcoin Daily Parabolic SAR Chart

    2. Momentum Indicators

    2.1 Relative Strength Index (RSI)

    Measures the speed and change of price movements.

    • Leading momentum indicator, meaning the signals are instant.
    • Ranges between 0 and 100.
    • Above 70 is considered overbought.
    • Below 30 is considered oversold.
    • Above or below 50 can also be used to determine price trend or support and resistance.
    • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
    • Can be used in many different ways
    • The RSI is above 50. +1
    • The RSI is above 70 and overbought. +2
    Bitcoin Daily Relative Strength Index (RSI) ChartBitcoin Daily Relative Strength Index (RSI) Chart
    2.2 Stochastic Oscillator

    Compares a certain price to multiple prices ranging over time.

    • Leading momentum indicator, meaning the signals are instant.
    • Used to determine overbought and oversold areas much like the RSI.
    • Ranges between 0 and 100.
    • Above 80 is considered overbought.
    • Below 20 is considered oversold.
    • Consists of two lines named K and D.
    • K compares the highest high and lowest low on the selected price range.
    • The D line is a moving average of the K line.
    • Can be used to spot divergences
    • The Stochastic is above 50. +1
    • The Stochastic is above 70 and overbought. +2
    Bitcoin Daily Stochastic Oscillator ChartBitcoin Daily Stochastic Oscillator Chart
    2.3 Commodity Channel Index (CCI)
    Bitcoin Daily Commodity Channel Index (CCI) ChartBitcoin Daily Commodity Channel Index (CCI) Chart
    2.4 Chande Momentum Oscillator (CMO)
    Bitcoin Daily Chande Momentum Oscillator (CMO) ChartBitcoin Daily Chande Momentum Oscillator (CMO) Chart
    2.5 Williams %R
    Bitcoin Daily Williams %R ChartBitcoin Daily Williams %R Chart

    3. Volatility Indicators

    3.1 Bollinger Bands
    Bitcoin Daily Bollinger Bands ChartBitcoin Daily Bollinger Bands Chart
    3.2 Average True Range (ATR)
    Bitcoin Daily Average True Range (ATR) ChartBitcoin Daily Average True Range (ATR) Chart

    4. Volume Indicators

    4.1 On-Balance Volume (OBV)
    Bitcoin Daily On-Balance Volume (OBV) ChartBitcoin Daily On-Balance Volume (OBV) Chart
    4.2 Money Flow Index (MFI)
    Bitcoin Daily Money Flow Index (MFI) ChartBitcoin Daily Money Flow Index (MFI) Chart

    5. Summary

    5.1. Notifications

    TypeNotificationDate
    PenkeCurrently no notifications for Bitcoin.

    5.2. Trading Signals

    DateIndicatorEntry signalExit signal
    2023-03-11CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
    ATR SHORT ENTRY LONG CLOSE
    2023-03-12DMI SHORT ENTRY LONG CLOSE
    SAR SHORT ENTRY LONG CLOSEprice crossed sar to downside
    STOCH SHORT ENTRY LONG CLOSE80 crossover to downside
    ATR SHORT ENTRY LONG CLOSE
    2023-03-13MACD LONG ENTRY SHORT CLOSE
    WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
    2023-03-16RSI SHORT ENTRY LONG CLOSE70 crossover to downside
    STOCH SHORT ENTRY LONG CLOSE80 crossover to downside
    ATR SHORT ENTRY LONG CLOSE
    2023-03-17CMO LONG ENTRY SHORT CLOSE50 crossover to upside
    2023-03-18RSI SHORT ENTRY LONG CLOSE70 crossover to downside
    2023-03-19CMO LONG ENTRY SHORT CLOSE50 crossover to upside

    5.2. Technical Score

    Let's check the technical score of Bitcoin based on Penke's default Symbol scanner.

    Penke's Symbol Scanner

      
      
    IndicatorConditionValue
    RsiGreater than5070.211
    Ma 20Greater thanMa 5023,627.794
    Ma 50Greater thanMa 10023,421.248
    Ma 100Greater thanMa 20021,077.908
    OpenGreater thanClose28,041.602
    Total5/5 (100.0%)

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