Bitcoin Cash Intraday: the RSI is oversold
Dec 26, 2024 2:02 PM
the downside prevails as long as 447.8 is resistance.
Our pivot point stands at 447.8.
Our preference:
the downside prevails as long as 447.8 is resistance.
Alternative scenario:
above 447.8, look for 461.5 and 469.6.
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 444.8 and 454.4).
Supports and resistances:
469.6 **
461.5 *
447.8 **
442.4
437.0 last
420.7
412.5 **
404.4 *
396.2 **
Our preference:
the downside prevails as long as 447.8 is resistance.
Alternative scenario:
above 447.8, look for 461.5 and 469.6.
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 444.8 and 454.4).
Supports and resistances:
469.6 **
461.5 *
447.8 **
442.4
437.0 last
420.7
412.5 **
404.4 *
396.2 **
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