Bitcoin Technical Analysis : BTC/USD 23 November 2022

23 November 2022 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 23 November 2022

Bitcoin Technical Analysis : BTCUSD

Date : 23 November 2022

Pivot point : 16170

Our preference : the upside prevails as long as 16170 is support.

Alternative scenario : the downside breakout of 16170 would call for 15820 and 15610.

Comment : the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 16195 and 16000). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 16435).

Supports and resistances :

17350 **
17140 *
16477 – Last price
15820 *
15610 **

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

Source : Trading Central

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