Bitcoin Technical Analysis : BTC/USD 16 October 2020

16 October 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 16 October 2020

Bitcoin Technical Analysis : BTCUSD

Date : 16 October 2020

Pivot point : 11500

Our preference : the downside prevails as long as 11500 is resistance.

Alternative scenario : above 11500, look for 11681 and 11789.

Comment : the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 11485 and 11431).

Supports and resistances :

11789 **
11681 *
11500
11350 – Last price
11064
10956 *
10849 **

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

Source : Trading Central

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