Bitcoin Technical Analysis : BTC/USD 2 June 2020

2 June 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 2 June 2020

Bitcoin Technical Analysis : BTCUSD

Date : 2 June 2020

Pivot point : 9887

Our preference : as long as 9887 is support look for 10555.

Alternative scenario : the downside breakout of 9887 would call for 9635 and 9486.

Comment : the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 9957 and 9714).

Supports and resistances :

10705 **
10555 *
10095 – Last price
9635 *
9486 **

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

Source : Trading Central

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