Bitcoin Technical Analysis : BTC/USD 12 December 2022

12 December 2022 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 12 December 2022

Bitcoin Technical Analysis : BTCUSD

Date : 12 December 2022

Pivot point : 17210

Our preference : the downside prevails as long as 17210 is resistance.

Alternative scenario : above 17210, look for 17580 and 17800.

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 17005 and 17103).

Supports and resistances :

17800 **
17580 *
17210
16927 – Last price
16490
16270 *
16060 **

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

Source : Trading Central

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