BTCUSD – 1D Chart Analysis



BTCUSD – 1D Chart Analysis by ReadBTC on TradingView.com

BTCUSD – 1D Chart Analysis

Based on Bollinger Bands and MACD principles, the trend is still bearish as long as the price is still between the 20 Days Moving Average and the lower band and also the MACD Line is below the signal one on a 1D chart.

The RSI is an “over sold” positon showing that the downtrend may slow down for a while which means we might see either a sideways movement or a small correction of the price.

But in the long run, it seems that it’s just a matter of time until the Support Level of 5922$ will be tested again.