Bitcoin Intraday: the downside prevails as long as 70520 is resistance
May 21, 2024 8:06 PM
the downside prevails as long as 70520 is resistance.
Our pivot point is at 70520.
Our preference: the downside prevails as long as 70520 is resistance.
Alternative scenario: the upside breakout of 70520, would call for 71870 and 72670.
Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 70328 and 70548).
Supports and resistances:
72670 **
71870 *
70520 **
69990
69397 last
67610
66810 **
66010 *
65220 **
Our preference: the downside prevails as long as 70520 is resistance.
Alternative scenario: the upside breakout of 70520, would call for 71870 and 72670.
Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 70328 and 70548).
Supports and resistances:
72670 **
71870 *
70520 **
69990
69397 last
67610
66810 **
66010 *
65220 **
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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