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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.
image
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 **
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.

Related Instruments

Bitcoin Cash
330.50
4.90
+1.51%
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