Bitcoin Technical Analysis : BTC/USD 14 July 2020

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

Bitcoin Technical Analysis : BTC/USD 14 July 2020

Bitcoin Technical Analysis : BTCUSD

Date : 14 July 2020

Pivot point : 9305

Our preference : the downside prevails as long as 9305 is resistance.

Alternative scenario : the upside breakout of 9305, would call for 9455 and 9545.

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 is trading under both its 20 and 50 MAs (respectively at 9221 and 9262). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (9179).

Supports and resistances :

9545 **
9455 *
9305
9175 – Last price
8995
8905 *
8816 **

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

Source : Trading Central

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