Bitcoin Cash Intraday: the downside prevails as long as 574.6 is resistance
Bitcoin Cash (BCH/USD)
-14.75-2.56%
the downside prevails as long as 574.6 is resistance.
Our pivot point is at 574.6.
Our preference: the downside prevails as long as 574.6 is resistance.
Alternative scenario: above 574.6, look for 589.9 and 599.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 576.5 and 577.5).
Supports and resistances:
599.0 **
589.9 *
574.6 **
568.6
562.5 last
544.2
535.1 **
526.0 *
516.9 **
Our preference: the downside prevails as long as 574.6 is resistance.
Alternative scenario: above 574.6, look for 589.9 and 599.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 576.5 and 577.5).
Supports and resistances:
599.0 **
589.9 *
574.6 **
568.6
562.5 last
544.2
535.1 **
526.0 *
516.9 **
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