Bitcoin Intraday: the upside prevails as long as 58400 is support
Jul 10, 2024 7:50 AM
the upside prevails as long as 58400 is support.
Our pivot point stands at 58400.
Our preference: the upside prevails as long as 58400 is support.
Alternative scenario: the downside breakout of 58400 would call for 57500 and 56970.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 58251 and 57816).
Supports and resistances:
61960 **
61420 *
60890 **
60360
59290 last
58750
58400 **
57500 *
56970 **
Our preference: the upside prevails as long as 58400 is support.
Alternative scenario: the downside breakout of 58400 would call for 57500 and 56970.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 58251 and 57816).
Supports and resistances:
61960 **
61420 *
60890 **
60360
59290 last
58750
58400 **
57500 *
56970 **
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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