Bitcoin Cash Intraday: the RSI is oversold
Bitcoin Cash (BCH/USD)
-14.34-4.87%
the downside prevails as long as 282.1 is resistance.
Our pivot point is at 282.1.
Our preference: the downside prevails as long as 282.1 is resistance.
Alternative scenario: above 282.1, look for 289.3 and 293.5.
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 288.9 and 295.2).
Supports and resistances:
293.5 **
289.3 *
282.1 **
279.3
274.9 last
265.0
260.8 **
256.6 *
252.3 **
Our preference: the downside prevails as long as 282.1 is resistance.
Alternative scenario: above 282.1, look for 289.3 and 293.5.
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 288.9 and 295.2).
Supports and resistances:
293.5 **
289.3 *
282.1 **
279.3
274.9 last
265.0
260.8 **
256.6 *
252.3 **
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