Bitcoin Cash / Dollar intraday: the RSI is oversol

Bitcoin Cash / Dollar intraday: the RSI is oversold

BCHUSD

Trading Central 2021-02-22 22:18:05

Our pivot point stands at 646.70.

Our preference: the downside prevails as long as 646.70 is resistance.

Alternative scenario: the upside breakout of 646.70, would call for 672.90 and 688.50.

Comment: the RSI is below 30. It could either mean that the pair 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 stands below its 20 and 50 period moving average (respectively at 663.50 and 688.20). Finally, the Bitcoin Cash / Dollar is trading below its lower Bollinger band (standing at 614.28).

Supports and resistances:

688.50 **

672.90 *

646.70 **

636.40

603.86 last

565.40

550.60 **

Disclaimer

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