Bitcoin Intraday: the upside prevails as long as 56560 is support
Aug 8, 2024 9:39 AM
the upside prevails as long as 56560 is support.
Our pivot point is at 56560.
Our preference: the upside prevails as long as 56560 is support.
Alternative scenario: the downside breakout of 56560 would call for 55710 and 55210.
Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 56705 and 56402).
Supports and resistances:
59870 **
59370 *
58870 **
58370
57361 last
56890
56560 **
55710 *
55210 **
Our preference: the upside prevails as long as 56560 is support.
Alternative scenario: the downside breakout of 56560 would call for 55710 and 55210.
Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 56705 and 56402).
Supports and resistances:
59870 **
59370 *
58870 **
58370
57361 last
56890
56560 **
55710 *
55210 **
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