Bitcoin Intraday: look for a drop towards 63490 before a bounce
Aug 2, 2024 9:35 AM
look for a drop towards 63490 before a bounce.
Our pivot point is at 63490.
Our preference: look for a drop towards 63490 before a bounce.
Alternative scenario: the downside breakout of 63490 would call for 62550 and 61980.
Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under its 20 period moving average (64465) but above its 50 period moving average (64213).
Supports and resistances:
67180 **
66620 *
66050 **
65490
64313 last
63860
63490 **
62550 *
61980 **
Our preference: look for a drop towards 63490 before a bounce.
Alternative scenario: the downside breakout of 63490 would call for 62550 and 61980.
Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under its 20 period moving average (64465) but above its 50 period moving average (64213).
Supports and resistances:
67180 **
66620 *
66050 **
65490
64313 last
63860
63490 **
62550 *
61980 **
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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