Bitcoin Intraday: the downside prevails as long as 59470 is resistance
Aug 19, 2024 2:04 AM
the downside prevails as long as 59470 is resistance.

Our pivot point stands at 59470.
Our preference: the downside prevails as long as 59470 is resistance.
Alternative scenario: above 59470, look for 60610 and 61280.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 59245 and 59545).
Supports and resistances:
61280 **
60610 *
59470 **
59020
58556 last
57190
56510 **
55830 *
55160 **
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