Bitcoin Intraday: the downside prevails as long as 63590 is resistance
Jun 24, 2024 5:32 AM
the downside prevails as long as 63590 is resistance.
Our pivot point stands at 63590.
Our preference: the downside prevails as long as 63590 is resistance.
Alternative scenario: the upside breakout of 63590, would call for 64570 and 65150.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 63359 and 63890).
Supports and resistances:
65150 **
64570 *
63590 **
63210
62824 last
61520
60940 **
60350 *
59770 **
Our preference: the downside prevails as long as 63590 is resistance.
Alternative scenario: the upside breakout of 63590, would call for 64570 and 65150.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 63359 and 63890).
Supports and resistances:
65150 **
64570 *
63590 **
63210
62824 last
61520
60940 **
60350 *
59770 **
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