Bitcoin Technical Analysis : BTC/USD 21 October 2020

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

Bitcoin Technical Analysis : BTC/USD 21 October 2020

Bitcoin Technical Analysis : BTCUSD

Date : 21 October 2020

Pivot point : 12113

Our preference : the upside prevails as long as 12113 is support.

Alternative scenario : below 12113, expect 11924 and 11811.

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 trading above both its 20 and 50 MAs (respectively at 12040 and 11932).

Supports and resistances :

12742 **
12629 *
12516
12262 – Last price
12113
11924 *
11811 **

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

Source : Trading Central

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