Bitcoin Technical Analysis : BTC/USD 17 November 2020

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

Bitcoin Technical Analysis : BTC/USD 17 November 2020

Bitcoin Technical Analysis : BTCUSD

Date : 17 November 2020

Pivot point : 15108

Our preference : the upside prevails as long as 15108 is support.

Alternative scenario : the downside breakout of 15108 would call for 13247 and 12139.

Comment : the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 15112 and 13032).

Supports and resistances :

21335 **
20210 *
19085
16605 – Last price
15108
13247 *
12139 **

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

Source : Trading Central

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