Bitcoin Technical Analysis : BTC/USD 10 July 2020

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

Bitcoin Technical Analysis : BTC/USD 10 July 2020

Bitcoin Technical Analysis : BTCUSD

Date : 10 July 2020

Pivot point : 9351

Our preference : the downside prevails as long as 9351 is resistance.

Alternative scenario : above 9351, look for 9534 and 9643.

Comment : the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 9223 and 9295). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (9182).

Supports and resistances :

9643 **
9534 *
9351
9158 – Last price
8911
8804 *
8696 **

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

Source : Trading Central

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