Bitcoin Intraday: below its lower Bollinger band
Bitcoin (BTC/USD)
-498.70-0.47%
the downside prevails as long as 72050 is resistance.
Our pivot point is at 72050.
Our preference: the downside prevails as long as 72050 is resistance.
Alternative scenario: the upside breakout of 72050, would call for 73050 and 73650.
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 72148 and 72181). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (71487).
Supports and resistances:
73650 **
73050 *
72050 **
71650
71258 last
70060
69460 **
68870 *
68270 **
Our preference: the downside prevails as long as 72050 is resistance.
Alternative scenario: the upside breakout of 72050, would call for 73050 and 73650.
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 72148 and 72181). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (71487).
Supports and resistances:
73650 **
73050 *
72050 **
71650
71258 last
70060
69460 **
68870 *
68270 **
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.
