Bitcoin Technical Analysis : BTC/USD 5 August 2020

5 August 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 5 August 2020

Bitcoin Technical Analysis : BTCUSD

Date : 5 August 2020

Pivot point : 11103

Our preference : our next up target stands at 11575.

Alternative scenario : the downside breakout of 11103 would call for 10930 and 10828.

Comment : the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 11215 and 11223).

Supports and resistances :

11678 **
11575 *
11472
11247 – Last price
11103
10930 *
10828 **

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

Source : Trading Central

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