Bitcoin Intraday: above its upper Bollinger band

Jul 10, 2024 5:36 AM

the upside prevails as long as 57480 is support.

57480 is our pivot point.
Our preference: the upside prevails as long as 57480 is support.
Alternative scenario: below 57480, expect 56610 and 56080.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 57897 and 57612). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 58352).
Supports and resistances:
61620 **
61090 *
60560 **
60030
58657 last
57830
57480 **
56610 *
56080 **

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