Bitcoin Short Term: the downside prevails
Aug 5, 2024 7:15 AM
short positions below 63000 with targets at 48000 & 39000 in extension.
Pivot: 63000
Our preference: short positions below 63000 with targets at 48000 & 39000 in extension.
Alternative scenario: above 63000 look for further upside with 70000 & 73800 as targets.
Comment: as long as the resistance at 63000 is not surpassed, the risk of the break below 48000 remains high.
Supports and resistances:
73800
70000
63000
52005 Last
48000
39000
33500
Our preference: short positions below 63000 with targets at 48000 & 39000 in extension.
Alternative scenario: above 63000 look for further upside with 70000 & 73800 as targets.
Comment: as long as the resistance at 63000 is not surpassed, the risk of the break below 48000 remains high.
Supports and resistances:
73800
70000
63000
52005 Last
48000
39000
33500
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