Bitcoin Technical Analysis : BTC/USD 9 March 2021

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

Bitcoin Technical Analysis : BTC/USD 9 March 2021

Bitcoin Technical Analysis : BTCUSD

Date : 9 March 2021

Pivot point : 52336

Our preference : the upside prevails as long as 52336 is support.

Alternative scenario : below 52336, expect 50486 and 49385.

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 52496 and 51267).

Supports and resistances :

58327 **
57223 *
56119
53912 – Last price
52336
50486 *
49385 **

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

Source : Trading Central

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