Bitcoin Technical Analysis : BTC/USD 9 February 2021

9 February 2021 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 9 February 2021

Bitcoin Technical Analysis : BTCUSD

Date : 9 February 2021

Pivot point : 46814

Our preference : the upside prevails as long as 46814 is support.

Alternative scenario : the downside breakout of 46814 would call for 45203 and 44244.

Comment : the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 46362 and 43602).

Supports and resistances :

52070 **
51108 *
50146
48140 – Last price
46814
45203 *
44244 **

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

Source : Trading Central

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