Bitcoin Technical Analysis : BTC/USD 29 April 2020

29 April 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 29 April 2020

Bitcoin Technical Analysis : BTCUSD

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 :

8660 **
8463 *
7857 – Last price
7259 *
7064 **

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

Source : Trading Central

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