Bitcoin Technical Analysis : BTC/USD 5 July 2021

5 July 2021 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 5 July 2021

Bitcoin Technical Analysis : BTCUSD

Date : 5 July 2021

Pivot point : 35196

Our preference : the downside prevails as long as 35196 is resistance.

Alternative scenario : the upside breakout of 35196, would call for 36462 and 37216.

Comment : the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 34963 and 35238).

Supports and resistances :

37216 **
36462 *
35196
34187 – Last price
32668
31915 *
31162 **

Warning : This information isn’t a buy-sell signal.

Source : Trading Central

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