Bitcoin Short Term: the downside prevails
Aug 5, 2024 7:15 AM
short positions below 63000 with targets at 48000 & 39000 in extension.
Pivot: 63000
Our preference: short positions below 63000 with targets at 48000 & 39000 in extension.
Alternative scenario: above 63000 look for further upside with 70000 & 73800 as targets.
Comment: as long as the resistance at 63000 is not surpassed, the risk of the break below 48000 remains high.
Supports and resistances:
73800
70000
63000
52005 Last
48000
39000
33500
Our preference: short positions below 63000 with targets at 48000 & 39000 in extension.
Alternative scenario: above 63000 look for further upside with 70000 & 73800 as targets.
Comment: as long as the resistance at 63000 is not surpassed, the risk of the break below 48000 remains high.
Supports and resistances:
73800
70000
63000
52005 Last
48000
39000
33500
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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