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Bitcoin / Dollar intraday: the RSI is oversold
2024-04-10
818
Our pivot point stands at 68940.
Our preference: the downside prevails as long as 68940 is resistance.
Alternative scenario: the upside breakout of 68940, would call for 70480 and 71390.
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 68931 and 69060). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (67857).
Supports and resistances:
71390 **
70480 *
68940 **
68340
67624 last
65750
64830 **
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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