HomeContributorsTechnical AnalysisBitcoin/Dollar The Downside Prevails As Long As 6802 Is Resistance

Bitcoin/Dollar The Downside Prevails As Long As 6802 Is Resistance

Our pivot (invalidation) point is at 6802.

Our preference The downside prevails as Long as 6802 is resistance.

Alternative scenario The upside breakout of 6802, would call for 6995 and 7109.

Comment The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 6683 and 6697).

Swissquote Bank SA
Swissquote Bank SAhttp://en.swissquote.com/fx
Trading foreign exchange, spot precious metals and any other product on the Forex platform involves significant risk of loss and may not be suitable for all investors. Prior to opening an account with Swissquote, consider your level of experience, investment objectives, assets, income and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not speculate, invest or hedge with capital you cannot afford to lose, that is borrowed or urgently needed or necessary for personal or family subsistence. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Featured Analysis

Learn Forex Trading