Bitcoin Technical Analysis : BTC/USD 19 August 2020

19 August 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 19 August 2020

Bitcoin Technical Analysis : BTCUSD

Date : 19 August 2020

Pivot point : 11908

Our preference : the downside prevails as long as 11908 is resistance.

Alternative scenario : above 11908, look for 12091 and 12201.

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 11964 and 12078). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 11762).

Supports and resistances :

12201 **
12091 *
11752 – Last price
11349 *
11240 **

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

Source : Trading Central

If you open a live account with a broker that support Trading Central, you’ll get all technical analysis.

5 Popular Forex Brokers
Forex Auto Rebate / Cashback

All Likerebateforex members will receive the special discount or highest rebate rate 100% of our IB commissions. (Free! No additional conditions, fees and deals restrictions)

Forex Brokers

Direct special discount

Highest rebate rate 100%