Bitcoin Intraday: the downside prevails as long as 61730 is resistance
Jul 3, 2024 7:53 AM
the downside prevails as long as 61730 is resistance.
Our pivot point stands at 61730.
Our preference: the downside prevails as long as 61730 is resistance.
Alternative scenario: the upside breakout of 61730, would call for 62590 and 63110.
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 61471 and 61994).
Supports and resistances:
63110 **
62590 *
61730 **
61380
60918 last
59880
59360 **
58850 *
58330 **
Our preference: the downside prevails as long as 61730 is resistance.
Alternative scenario: the upside breakout of 61730, would call for 62590 and 63110.
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 61471 and 61994).
Supports and resistances:
63110 **
62590 *
61730 **
61380
60918 last
59880
59360 **
58850 *
58330 **
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