Bitcoin Cash Short Term: below its lower Bollinger band

Feb 4, 2025 11:05 AM

the downside prevails as long as 411.3 is resistance.

Our pivot point is at 411.3.
Our preference:
the downside prevails as long as 411.3 is resistance.
Alternative scenario:
the upside breakout of 411.3, would call for 481.9 and 524.
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 422.8 and 441.4). Finally, the Bitcoin Cash / Dollar has penetrated its lower Bollinger band (347.6).
Supports and resistances:
524.0 **
481.9 *
411.3 **
383.5
333.5 last
246.8
208.6 **
170.4 *
132.1 **

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