Bitcoin Technical Analysis : BTC/USD 14 October 2022

14 October 2022 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 14 October 2022

Bitcoin Technical Analysis : BTCUSD

Date : 14 October 2022

Pivot point : 19420

Our preference : the upside prevails as long as 19490 is support.

Alternative scenario : the downside breakout of 19490 would call for 19090 and 18850.

Comment : the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19548 and 19158).

Supports and resistances :

20780 **
20540 *
19815 – Last price
19090 *
18850 **

Warning : This information isn’t a buy-sell signal.

Source : Trading Central

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