Bitcoin Short Term: the upside prevails as long as 56340 is support
Oct 1, 2024 10:05 AM
the upside prevails as long as 56340 is support.
56340 is our pivot point.
Our preference:
the upside prevails as long as 56340 is support.
Alternative scenario:
the downside breakout of 56340 would call for 47890 and 42850.
Comment:
the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 62583 and 60397).
Supports and resistances:
89710 **
84590 *
79470 **
74340
63850 last
59660
56340 **
47890 *
42850 **
Our preference:
the upside prevails as long as 56340 is support.
Alternative scenario:
the downside breakout of 56340 would call for 47890 and 42850.
Comment:
the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 62583 and 60397).
Supports and resistances:
89710 **
84590 *
79470 **
74340
63850 last
59660
56340 **
47890 *
42850 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
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