Bitcoin Intraday: below its lower Bollinger band
Bitcoin (BTC/USD)
-257.85-0.38%
the downside prevails as long as 71560 is resistance.
Our pivot point stands at 71560.
Our preference: the downside prevails as long as 71560 is resistance.
Alternative scenario: the upside breakout of 71560, would call for 73140 and 74090.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 70477 and 70971). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 69668).
Supports and resistances:
74090 **
73140 *
71560 **
70940
69346 last
67460
66530 **
65600 *
64670 **
Our preference: the downside prevails as long as 71560 is resistance.
Alternative scenario: the upside breakout of 71560, would call for 73140 and 74090.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 70477 and 70971). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 69668).
Supports and resistances:
74090 **
73140 *
71560 **
70940
69346 last
67460
66530 **
65600 *
64670 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
