Bitcoin Technical Analysis : BTC/USD 7 August 2020

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

Bitcoin Technical Analysis : BTC/USD 7 August 2020

Bitcoin Technical Analysis : BTCUSD

Date : 7 August 2020

Pivot point : 11678

Our preference : as long as 11678 is support look for 12148.

Alternative scenario : the downside breakout of 11678 would call for 11496 and 11388.

Comment : the RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (respectively at 11824 and 11786).

Supports and resistances :

12256 **
12148 *
12040
11824 – Last price
11678
11496 *
11388 **

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

Source : Trading Central

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