9 September 2022 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)
Date : 9 September 2022
Pivot point : 20140
Our preference : the upside prevails as long as 20140 is support.
Alternative scenario : the downside breakout of 20140 would call for 19530 and 19160.
Comment : the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19747 and 19443).
Supports and resistances :
20659 – Last price
Warning : This information isn’t a buy-sell signal.
Source : Trading Central
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