Bitcoin Gold / Dollar may rise to 32.39 - 32.97

Our pivot point stands at 30.30.

Our preference

Rebound towards 32.97.

Alternative scenario

The downside breakout of 30.30 would call for 29.33 and 28.75.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 31.41 and 32.37).

Supports and resistances

34.14 **

33.55 *

32.97 **

32.39

31.19 last

30.69

30.30 **

29.33 *

28.75 **

Number of asterisks represents the strength of support and resistance levels.