Bitcoin Cash Intraday: the RSI is oversold
Dec 26, 2024 9:42 AM
the downside prevails as long as 453.3 is resistance.
453.3 is our pivot point.
Our preference:
the downside prevails as long as 453.3 is resistance.
Alternative scenario:
the upside breakout of 453.3, would call for 467.2 and 475.5.
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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 454.2 and 459.2).
Supports and resistances:
475.5 **
467.2 *
453.3 **
447.9
442.4 last
424.7
416.5 **
408.3 *
400.0 **
Our preference:
the downside prevails as long as 453.3 is resistance.
Alternative scenario:
the upside breakout of 453.3, would call for 467.2 and 475.5.
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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 454.2 and 459.2).
Supports and resistances:
475.5 **
467.2 *
453.3 **
447.9
442.4 last
424.7
416.5 **
408.3 *
400.0 **
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Bitcoin Cash
442.00
4.70
+1.07%