29 April 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)
Date : 29 April 2020
Pivot point : 7587
Our preference : the upside prevails as long as 7587 is support.
Alternative scenario : below 7587, expect 7259 and 7064.
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 pair is trading above both its 20 and 50 MAs (respectively at 7775 and 7747). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (7856).
Supports and resistances :
7857 – Last price
Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.
Source : Trading Central
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