Bitcoin Technical Analysis : BTC/USD 19 October 2020

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

Bitcoin Technical Analysis : BTC/USD 19 October 2020

Bitcoin Technical Analysis : BTCUSD

Date : 19 October 2020

Pivot point : 11593

Our preference : target 11123.

Alternative scenario : the upside breakout of 11593, would call for 11776 and 11885.

Comment : the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 MA (11461) but above its 50 MA (11447).

Supports and resistances :

11885 **
11776 *
11593
11449 – Last price
11232
11123 *
11014 **

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

Source : Trading Central

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