Bitcoin Technical Analysis : BTC/USD 9 January 2023

Bitcoin Technical Analysis : BTCUSD

Date : 9 January 2023

Pivot point : 17020

Our preference : the upside prevails as long as 17020 is support.

Alternative scenario : below 17020, expect 16800 and 16680.

Comment : the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (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 17043 and 16981).

Supports and resistances :

17710 **
17580 *
17450
17190 – Last price
17020
16800 *
16680 **

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

Source : Trading Central

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