Bitcoin / Dollar intraday: above its upper Bollinger band

Trading Central 2020-11-20 22:52:04

Our pivot point stands at 18126.

Our preference: the upside prevails as long as 18126 is support.

Alternative scenario: the downside breakout of 18126 would call for 17829 and 17652.

Comment: the RSI is trading above 70. This could mean that either the pair 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 above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 18252 and 18089). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 18449).

Supports and resistances:

19602 **

19422 *

19241 **

19061

18534 last

18243

18126 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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