Bitcoin Intraday: above its upper Bollinger band
May 20, 2025 2:05 AM
the upside prevails as long as 104980 is support.
104980 is our pivot point.
Our preference:
the upside prevails as long as 104980 is support.
Alternative scenario:
the downside breakout of 104980 would call for 103080 and 101960.
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 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 105536 and 104285). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (106449).
Supports and resistances:
112160 **
111030 *
109900 **
108770
106509 last
105730
104980 **
103080 *
101960 **
Our preference:
the upside prevails as long as 104980 is support.
Alternative scenario:
the downside breakout of 104980 would call for 103080 and 101960.
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 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 105536 and 104285). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (106449).
Supports and resistances:
112160 **
111030 *
109900 **
108770
106509 last
105730
104980 **
103080 *
101960 **
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