Bitcoin Short Term: bullish bias above 53000
Sep 23, 2024 8:06 AM
long positions above 53000 with targets at 70000 & 73800 in extension.
Pivot: 53000
Our preference:
long positions above 53000 with targets at 70000 & 73800 in extension.
Alternative scenario:
below 53000 look for further downside with 49000 & 44000 as targets.
Comment:
the RSI is bullish and calls for further upside. The price is posting upward momentum in a Broadening Formation : a bullish continuation pattern.
Supports and resistances:
78260
73800
70000
63447 Last
53000
49000
44000
Our preference:
long positions above 53000 with targets at 70000 & 73800 in extension.
Alternative scenario:
below 53000 look for further downside with 49000 & 44000 as targets.
Comment:
the RSI is bullish and calls for further upside. The price is posting upward momentum in a Broadening Formation : a bullish continuation pattern.
Supports and resistances:
78260
73800
70000
63447 Last
53000
49000
44000
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