Bitcoin Intraday: the RSI is oversold
Bitcoin (BTC/USD)
+37.95+0.05%
The downside prevails as long as 77,185 is resistance, with 74,859 and 74,505 as targets
Our pivot point is at 77,185.
Our preference: The downside prevails as long as 77,185 is resistance, with 74,859 and 74,505 as targets
Alternative scenario: above 77,185, look for 77,790 and 78,149.
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. The price stands below its 20 and 50 period moving average (respectively at 77,048 and 77,156). The Bitcoin / USD is trading below its lower Bollinger band (standing at 76,522).
Supports and resistances:
78,149 **
77,790 *
77,185 **
76,280 last
74,859
74,505 **
74,150 *
Our preference: The downside prevails as long as 77,185 is resistance, with 74,859 and 74,505 as targets
Alternative scenario: above 77,185, look for 77,790 and 78,149.
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. The price stands below its 20 and 50 period moving average (respectively at 77,048 and 77,156). The Bitcoin / USD is trading below its lower Bollinger band (standing at 76,522).
Supports and resistances:
78,149 **
77,790 *
77,185 **
76,280 last
74,859
74,505 **
74,150 *
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.
