Bitcoin Technical Analysis : BTC/USD 17 March 2020

17 March 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 17 March 2020

Bitcoin Technical Analysis : BTCUSD

Date : 17 March 2020

Pivot point : 6686

Our preference : the downside prevails as long as 6686 is resistance.

Alternative scenario : above 6686, look for 8265 and 9204.

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 below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 7563 and 8845).

Supports and resistances :

9204 **
8265 *
6686
5303 – Last price
3237
2384 *
1532 **

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

Source : Trading Central

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