Bitcoin Technical Analysis : BTC/USD 10 August 2020

Bitcoin Technical Analysis : BTCUSD

Date : 10 August 2020

Pivot point : 11875

Our preference : the upside prevails as long as 11875 is support.

Alternative scenario : below 11875, expect 11690 and 11580.

Comment : the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 11780 and 11706).

Supports and resistances :

12515 **
12405 *
12295
12032 – Last price
11875
11690 *
11580 **

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

Source : Trading Central

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