Bitcoin Technical Analysis : BTC/USD 6 August 2020

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

Bitcoin Technical Analysis : BTC/USD 6 August 2020

Bitcoin Technical Analysis : BTCUSD

Date : 6 August 2020

Pivot point : 11779

Our preference : target 11262.

Alternative scenario : the upside breakout of 11779, would call for 11958 and 12064.

Comment : the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 MA (11688) but above its 50 MA (11556).

Supports and resistances :

12064 **
11958 *
11779
11618 – Last price
11368
11262 *
11156 **

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

Source : Trading Central

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