Bitcoin Technical Analysis : BTC/USD 8 October 2020

8 October 2020 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 8 October 2020

Bitcoin Technical Analysis : BTCUSD

Date : 8 October 2020

Pivot point : 10778

Our preference : under pressure below 10778.

Alternative scenario : above 10778, look for 10951 and 11054.

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 both its 20 and 50 MAs (respectively at 10648 and 10631). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 10625).

Supports and resistances :

11054 **
10951 *
10778
10621 – Last price
10403
10301 *
10198 **

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

Source : Trading Central

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