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Bitcoin/Dollar Levels: The downside prevails as long as 6838 is resistance

Bitcoin/Dollar Levels: The downside prevails as long as 6838 is resistance
Swissquote Bank Research TeamSwissquote Bank Research TeamSwissquote Bank Ltd

Bitcoin/Dollar

The downside prevails as long as 6838 is resistance

Bitcoin

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Our pivot (invalidation) point stands at 6838.

Our preference
The downside prevails as Long as 6838 is resistance.

Alternative scenario
Above 6838, look for 7050 and 7176.

Comment
The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 6697 and 6720).

Author

Swissquote Bank Research Team

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