Bitcoin Technical Analysis : BTC/USD 26 April 2021

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

Bitcoin Technical Analysis : BTC/USD 26 April 2021

Bitcoin Technical Analysis : BTCUSD

Date : 26 April 2021

Pivot point : 51339

Our preference : the upside prevails as long as 51339 is support.

Alternative scenario : the downside breakout of 51339 would call for 50089 and 49345.

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 above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 50347 and 50025).

Supports and resistances :

55425 **
54679 *
52442 – Last price
50089 *
49345 **

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

Source : Trading Central

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