Bitcoin Technical Analysis : BTC/USD 7 May 2020

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

Bitcoin Technical Analysis : BTC/USD 7 May 2020

Bitcoin Technical Analysis : BTCUSD

Date : 7 May 2020

Pivot point : 9595

Our preference : target 8556.

Alternative scenario : the upside breakout of 9595, would call for 9984 and 10215.

Comment : the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 MA (9275) but above its 50 MA (9218).

Supports and resistances :

10215 **
9984 *
9595
9255 – Last price
8787
8556 *
8326 **

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

Source : Trading Central

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