Bitcoin Cash Intraday: the RSI is oversold
Bitcoin Cash (BCH/USD)
+0.79+0.19%
the downside prevails as long as 424.1 is resistance.
Our pivot point is at 424.1.
Our preference: the downside prevails as long as 424.1 is resistance.
Alternative scenario: above 424.1, look for 435.8 and 442.7.
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 is trading under both its 20 and 50 period moving average (respectively at 428.9 and 435).
Supports and resistances:
442.7 **
435.8 *
424.1 **
419.6
414.4 last
400.6
393.7 **
386.7 *
379.8 **
Our preference: the downside prevails as long as 424.1 is resistance.
Alternative scenario: above 424.1, look for 435.8 and 442.7.
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 is trading under both its 20 and 50 period moving average (respectively at 428.9 and 435).
Supports and resistances:
442.7 **
435.8 *
424.1 **
419.6
414.4 last
400.6
393.7 **
386.7 *
379.8 **
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