Bitcoin Cash Intraday: the downside prevails as long as 476.1 is resistance
Jan 18, 2025 7:49 AM
the downside prevails as long as 476.1 is resistance.
Our pivot point stands at 476.1.
Our preference:
the downside prevails as long as 476.1 is resistance.
Alternative scenario:
above 476.1, look for 489.5 and 497.5.
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 481 and 483.9).
Supports and resistances:
497.5 **
489.5 *
476.1 **
470.8
464.0 last
448.1
440.2 **
432.2 *
424.3 **
Our preference:
the downside prevails as long as 476.1 is resistance.
Alternative scenario:
above 476.1, look for 489.5 and 497.5.
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 481 and 483.9).
Supports and resistances:
497.5 **
489.5 *
476.1 **
470.8
464.0 last
448.1
440.2 **
432.2 *
424.3 **
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