Bitcoin Technical Analysis : BTC/USD 28 November 2022

Bitcoin Technical Analysis : BTCUSD

Date : 28 November 2022

Pivot point : 16420

Our preference : the downside prevails as long as 16420 is resistance.

Alternative scenario : the upside breakout of 16420, would call for 16770 and 16970.

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 16433 and 16497).

Supports and resistances :

16970 **
16770 *
16420
16140 – Last price
15690
15480 *
15280 **

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

Source : Trading Central

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