Bitcoin Intraday: the downside prevails as long as 55950 is resistance
Jul 8, 2024 5:05 AM
the downside prevails as long as 55950 is resistance.
Our pivot point stands at 55950.
Our preference: the downside prevails as long as 55950 is resistance.
Alternative scenario: the upside breakout of 55950, would call for 56740 and 57210.
Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 56039 and 56827).
Supports and resistances:
57210 **
56740 *
55950 **
55640
55275 last
54060
53600 **
53130 *
52670 **
Our preference: the downside prevails as long as 55950 is resistance.
Alternative scenario: the upside breakout of 55950, would call for 56740 and 57210.
Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 56039 and 56827).
Supports and resistances:
57210 **
56740 *
55950 **
55640
55275 last
54060
53600 **
53130 *
52670 **
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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