Bitcoin Intraday: as long as 116990 is support look for 120350
Jul 11, 2025 8:41 AM
as long as 116990 is support look for 120350.
Our pivot point stands at 116990.
Our preference:
as long as 116990 is support look for 120350.
Alternative scenario:
the downside breakout of 116990 would call for 115740 and 115000.
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 116865 and 114247).
Supports and resistances:
121840 **
121090 *
120350 **
119610
117985 last
117480
116990 **
115740 *
115000 **
Our preference:
as long as 116990 is support look for 120350.
Alternative scenario:
the downside breakout of 116990 would call for 115740 and 115000.
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 116865 and 114247).
Supports and resistances:
121840 **
121090 *
120350 **
119610
117985 last
117480
116990 **
115740 *
115000 **
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