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Bitcoin / Dollar intraday: the RSI is oversold
2024-03-14
246
Our pivot point stands at 71970.
Our preference: the downside prevails as long as 71970 is resistance.
Alternative scenario: above 71970, look for 73200 and 73930.
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 72758 and 72938). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (71045).
Supports and resistances:
73930 **
73200 *
71970 **
71490
70839 last
69240
68510 **
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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