Bitcoin was under pressure yesterday. As noted, the whole latest news stream had been really pretty bad and there were plenty of reasons to get it down. The latest news from China was particularly bad yesterday afternoon, which helped ensure there was no real rebound before the US market closed last night. It also led to a lower initial move at the start of today's Asian session as the major cryptocurrency dipped as low as 31,170. However, and despite the outlook here indicating a possible move to 30k, it has once again found support before that level. This led to a move back above 33k a little earlier this morning. The maximum reached so far has been set at 33,250. Of course, this interim rebound is not substantial and does not remove the downside risks at this stage, but it is at least an encouragement for the backers of the coin.
The setting is positive.
Our pivot is located at 31909
Foreseeable scenario: as long as the support at 31909 holds, the bullish scenario will prevail.
Alternative scenario: below 31909, targets at 30686 and 29958
Analysis: The RSI hovers above the 50-point equilibrium line. The MACD is positive and hovering above its moving average. The setting is positive. Observe that the volumes have been on the rise for a few days.
Supports and resistance:
36657 **
35926 *
35195 **
34463
32560 (last trade)
32390
31909 **
30686 *
29958 **
ETHEREUM:
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