Bitcoin Technical Analysis : BTC/USD 24 February 2022

24 February 2022 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 24 February 2022

Bitcoin Technical Analysis : BTCUSD

Date : 24 February 2022

Pivot point : 35490

Our preference : the downside prevails as long as 35490 is resistance.

Alternative scenario : above 35490, look for 36520 and 37130.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 36522 and 37701).

Supports and resistances :

37130 **
36520 *
35490
34600 – Last price
33360
32750 *
32140 **

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

Source : Trading Central

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