Bitcoin Gold / Dollar may fall to 15.31 - 18.55

29.39 is our pivot point.

Our preference

The downside prevails as long as 29.39 is resistance.

Alternative scenario

Above 29.39, look for 34.84 and 38.09.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 30.27 and 32.49). Finally, the Bitcoin Gold / Dollar has penetrated its lower Bollinger band (25.08).

Supports and resistances

38.09 **

34.84 *

29.39 **

27.24

25.02 last

18.55

15.31 **

12.07 *

8.83 **

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