BTC/USD 4H Chart: Two scenarios likely - Trade Pattern Ideas - Dukascopy Bank

Fri, 21 Feb 2020 06:49:49 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The Bitcoin cryptocurrency has declined by 10.14% in value against the US Dollar since last week's trading sessions. The decline began after the currency pair tested the $10500 mark on February 12.

Currently, the exchange rate is testing a support cluster formed by the weekly S1 and the 200– period simple moving average at 9487.47.

Most likely, the BTC/USD pair will bounce off from the support cluster during the following trading sessions.

However, if the cryptocurrency breaks the cluster, the next target for bearish traders would be at the $9000 mark in the shorter term.


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