Bitcoin Technical Analysis : BTC/USD 23 April 2021

23 April 2021 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 23 April 2021

Bitcoin Technical Analysis : BTCUSD

Date : 23 April 2021

Pivot point : 50217

Our preference : the downside prevails as long as 50217 is resistance.

Alternative scenario : above 50217, look for 51395 and 52096.

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 price stands below its 20 and 50 period moving average (respectively at 51068 and 53019).

Supports and resistances :

52096 **
51395 *
50217
49247 – Last price
47703
47005 *
46307 **

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

Source : Trading Central

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