BTCUSD Technical Analysis & Price Forecast – 09 December 2022
09 Dec 2022
BTCUSD Technical Analysis: Weekly Chart
In the weekly charts, BTCUSD was trading in a down channel. BTCUSD is currently trading below all SMA except MA (5).
RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 18900.00 the resistance level is at 19500.00
BTCUSD was traded in a down channel before there is an upside breakout.
BTCUSD Technical Analysis: Daily Chart
In the daily charts, BTCUSD is trading in a down channel. BTCUSD is currently trading below all SMA.
RSI is in the neutral zone which indicates neutralness. MACD is currently below zero which indicates bearishness.
Its immediate support is 18800.00 the resistance level is at 19600.00
BTCUSD will trade in a down channel until there is a trend reversal.
How to Trade BTCUSD this Week:
BTCUSD will follow the downtrend until its trend reversal. So, remain bearish on BTCUSD.