Bitcoin Technical Analysis : BTC/USD 12 May 2020

12 May 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 12 May 2020

Bitcoin Technical Analysis : BTCUSD

Date : 12 May 2020

Pivot point : 8496

Our preference : the upside prevails as long as 8496 is support.

Alternative scenario : the downside breakout of 8496 would call for 8230 and 8071.

Comment : the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 8640 and 8692).

Supports and resistances :

9387 **
9228 *
9068
8750 – Last price
8496
8230 *
8071 **

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

Source : Trading Central

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