Bitcoin Technical Analysis : BTC/USD 10 April 2020

10 April 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 10 April 2020

Bitcoin Technical Analysis : BTCUSD

Date : 10 April 2020

Pivot point : 7385

Our preference : the downside prevails as long as 7385 is resistance.

Alternative scenario : above 7385, look for 7684 and 7862.

Comment : the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 7251 and 7284). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (7092).

Supports and resistances :

7862 **
7684 *
7004 – Last price
6400 *
6227 **

Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.

Source : Trading Central

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