Bitcoin Technical Analysis : BTC/USD 10 March 2022

10 March 2022 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 10 March 2022

Bitcoin Technical Analysis : BTCUSD

Date : 10 March 2022

Pivot point : 40290

Our preference : the downside prevails as long as 40290 is resistance.

Alternative scenario : above 40290, look for 41460 and 42150.

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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 41185 and 41692).

Supports and resistances :

42150 **
41460 *
40290
39338 – Last price
37860
37170 *
36480 **

Warning : This information isn’t a buy-sell signal.

Source : Trading Central

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