Bitcoin Technical Analysis : BTC/USD 7 November 2022

Bitcoin Technical Analysis : BTCUSD

Date : 7 November 2022

Pivot point : 21180

Our preference : the downside prevails as long as 21180 is resistance.

Alternative scenario : the upside breakout of 21180, would call for 21550 and 21770.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 21135 and 21193).

Supports and resistances :

21770 **
21550 *
21180
20882 – Last price
20430
20210 *
19990 **

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

Source : Trading Central

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