Bitcoin Technical Analysis : BTC/USD 21 January 2022

21 January 2022 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 21 January 2022

Bitcoin Technical Analysis : BTCUSD

Date : 21 January 2022

Pivot point : 39720

Our preference : the downside prevails as long as 39720 is resistance.

Alternative scenario : the upside breakout of 39720, would call for 40870 and 41560.

Comment : the RSI is trading below 30. This could mean that either the pair 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 is trading under both its 20 and 50 period moving average (respectively at 40419 and 41639).

Supports and resistances :

41560 **
40870 *
39720
38801 – Last price
37420
36730 *
36050 **

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

Source : Trading Central

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