Bitcoin Short Term: below its lower Bollinger band
Feb 25, 2025 11:05 AM
the downside prevails as long as 99590 is resistance.
Our pivot point stands at 99590.
Our preference:
the downside prevails as long as 99590 is resistance.
Alternative scenario:
above 99590, look for 108630 and 114020.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 95987 and 98515). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (91304).
Supports and resistances:
114020 **
108630 *
99590 **
96040
87883 last
76730
71680 **
66630 *
61570 **
Our preference:
the downside prevails as long as 99590 is resistance.
Alternative scenario:
above 99590, look for 108630 and 114020.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 95987 and 98515). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (91304).
Supports and resistances:
114020 **
108630 *
99590 **
96040
87883 last
76730
71680 **
66630 *
61570 **
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