Technical Analysis (Bitcoin) : BTC/USD 29 August 2019

29 August 2019 Analysis (Forex, Currency Pair, CFDs, Crypto, etc.)BTC/USD (Bitcoin)Cryptocurrency

Technical Analysis (Bitcoin) : BTC/USD 29 August 2019

Cryptocurrency Technical Analysis : BTC/USD (Bitcoin)

Identified : 29 August 2019

Our pivot point stands at : 9461

Our preference : rebound towards 9864.

Alternative scenario : below 9461, expect 9331 and 9254.

Supports and resistances :

10020 **
9942 *
9864 **
9786
9589 – Last
9513
9461 **
9331 *
9254 **

Comment : the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 9688 and 9971). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (9614).

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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