Bitcoin Intraday: as long as 64860 is support look for 68610
May 16, 2024 2:23 AM
as long as 64860 is support look for 68610.
Our pivot point is at 64860.
Our preference: as long as 64860 is support look for 68610.
Alternative scenario: the downside breakout of 64860 would call for 63440 and 62590.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 65865 and 63983).
Supports and resistances:
70300 **
69450 *
68610 **
67760
66050 last
65420
64860 **
63440 *
62590 **
Our preference: as long as 64860 is support look for 68610.
Alternative scenario: the downside breakout of 64860 would call for 63440 and 62590.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 65865 and 63983).
Supports and resistances:
70300 **
69450 *
68610 **
67760
66050 last
65420
64860 **
63440 *
62590 **
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