17 March 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)
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 :
5303 – Last price
Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.
Source : Trading Central
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