BTC/USD 4H Chart: Pressured by 50– period SMA - Trade Pattern Ideas - Dukascopy Bank
Fri, 04 Oct 2019 05:21:10 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Buy
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Neutral
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇒
The Bitcoin cryptocurrency has depreciated about 21.82% in value against the US Dollar since September 22. The currency pair tested the lower boundary of a descending channel pattern at 7875.37 during last week's trading sessions.
The 50– period simple moving average is currently providing resistance for the exchange rate at 8243.77.
If the resistance level holds, a decline towards the weekly S1 and the monthly S1 at 7195.57 could be expected during the following trading sessions.
However, if the BTC/USD pair breaks the 50-period SMA, bulls could push the price towards the monthly R1 at 9536.90 next week.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.