Bitcoin Intraday: as long as 64860 is support look for 68610
May 16, 2024 2:23 AM
as long as 64860 is support look for 68610.
Our pivot point is at 64860.
Our preference: as long as 64860 is support look for 68610.
Alternative scenario: the downside breakout of 64860 would call for 63440 and 62590.
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 65865 and 63983).
Supports and resistances:
70300 **
69450 *
68610 **
67760
66050 last
65420
64860 **
63440 *
62590 **
Our preference: as long as 64860 is support look for 68610.
Alternative scenario: the downside breakout of 64860 would call for 63440 and 62590.
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 65865 and 63983).
Supports and resistances:
70300 **
69450 *
68610 **
67760
66050 last
65420
64860 **
63440 *
62590 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
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