Bitcoin Technical Analysis : BTC/USD 7 May 2021

7 May 2021 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 7 May 2021

Bitcoin Technical Analysis : BTCUSD

Date : 7 May 2021

Pivot point : 55040

Our preference : rebound towards 58516.

Alternative scenario : the downside breakout of 55040 would call for 53786 and 53040.

Comment : the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (56137) but under its 50 period moving average (56680).

Supports and resistances :

59265 **
58516 *
57766
56207 – Last price
55040
53786 *
53040 **

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

Source : Trading Central

If you open a live account with a broker that support Trading Central, you’ll get all technical analysis.



5 Popular Forex Brokers
Forex Auto Rebate / Cashback

All Likerebateforex members will receive the special discount or highest rebate rate 100% of our IB commissions. (Free! No additional conditions, fees and deals restrictions)

Forex Brokers

Direct special discount

Highest rebate rate 100%