Bitcoin Intraday: the RSI is oversold
Bitcoin (BTC/USD)
-742.42-0.95%
The downside prevails as long as 79,393 is resistance, with 76,245 and 75,535 as targets
Our pivot point is at 79,393.
Our preference: The downside prevails as long as 79,393 is resistance, with 76,245 and 75,535 as targets
Alternative scenario: above 79,393, look for 80,598 and 81,315.
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 78,772 and 78,427). The Bitcoin / USD is trading below its lower Bollinger band (standing at 78,089).
Supports and resistances:
81,315 **
80,598 *
79,393 **
77,665 last
76,245
75,535 **
74,825 *
Our preference: The downside prevails as long as 79,393 is resistance, with 76,245 and 75,535 as targets
Alternative scenario: above 79,393, look for 80,598 and 81,315.
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 78,772 and 78,427). The Bitcoin / USD is trading below its lower Bollinger band (standing at 78,089).
Supports and resistances:
81,315 **
80,598 *
79,393 **
77,665 last
76,245
75,535 **
74,825 *
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