30 March 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)
Date : 30 March 2020
Pivot point : 5845
Our preference : the upside prevails as long as 5845 is support.
Alternative scenario : the downside breakout of 5845 would call for 5593 and 5442.
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 5959 and 6061). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 6116).
Supports and resistances :
6209 – 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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