Bitcoin Intraday: the RSI is oversold
Jun 24, 2024 8:35 PM
the downside prevails as long as 60850 is resistance.
Our pivot point stands at 60850.
Our preference: the downside prevails as long as 60850 is resistance.
Alternative scenario: above 60850, look for 61790 and 62340.
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 60811 and 62125).
Supports and resistances:
62340 **
61790 *
60850 **
60480
59765 last
58650
58100 **
57550 *
56990 **
Our preference: the downside prevails as long as 60850 is resistance.
Alternative scenario: above 60850, look for 61790 and 62340.
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 60811 and 62125).
Supports and resistances:
62340 **
61790 *
60850 **
60480
59765 last
58650
58100 **
57550 *
56990 **
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