Bitcoin Intraday: look for a drop towards 118270 before a bounce
Jul 18, 2025 12:59 PM
look for a drop towards 118270 before a bounce.
118270 is our pivot point.
Our preference:
look for a drop towards 118270 before a bounce.
Alternative scenario:
below 118270, expect 117000 and 116250.
Comment:
the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (119639) but above its 50 period moving average (119441).
Supports and resistances:
123270 **
122510 *
121760 **
121010
119500 last
118760
118270 **
117000 *
116250 **
Our preference:
look for a drop towards 118270 before a bounce.
Alternative scenario:
below 118270, expect 117000 and 116250.
Comment:
the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (119639) but above its 50 period moving average (119441).
Supports and resistances:
123270 **
122510 *
121760 **
121010
119500 last
118760
118270 **
117000 *
116250 **
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