Bitcoin Intraday: below its lower Bollinger band
Bitcoin (BTC/USD)
-2983.15-3.24%
the downside prevails as long as 92010 is resistance.
92010 is our pivot point.
Our preference: the downside prevails as long as 92010 is resistance.
Alternative scenario: above 92010, look for 93400 and 94230.
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 91661 and 92088). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (90579).
Supports and resistances:
94230 **
93400 *
92010 **
91470
90575 last
88670
87850 **
87030 *
86210 **
Our preference: the downside prevails as long as 92010 is resistance.
Alternative scenario: above 92010, look for 93400 and 94230.
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 91661 and 92088). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (90579).
Supports and resistances:
94230 **
93400 *
92010 **
91470
90575 last
88670
87850 **
87030 *
86210 **
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.
