Bitcoin Cash Intraday: the RSI is oversold
Bitcoin Cash (BCH/USD)
+1.60+0.38%
the downside prevails as long as 425.6 is resistance.
Our pivot point stands at 425.6.
Our preference: the downside prevails as long as 425.6 is resistance.
Alternative scenario: the upside breakout of 425.6, would call for 437.3 and 444.3.
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 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 425.4 and 433.1).
Supports and resistances:
444.3 **
437.3 *
425.6 **
421.0
416.5 last
402.6
395.6 **
388.6 *
381.7 **
Our preference: the downside prevails as long as 425.6 is resistance.
Alternative scenario: the upside breakout of 425.6, would call for 437.3 and 444.3.
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 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 425.4 and 433.1).
Supports and resistances:
444.3 **
437.3 *
425.6 **
421.0
416.5 last
402.6
395.6 **
388.6 *
381.7 **
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