Bitcoin Intraday: above its upper Bollinger band
Aug 8, 2024 3:02 AM
our next up target stands at 58470.
Our pivot point is at 56220.
Our preference: our next up target stands at 58470.
Alternative scenario: the downside breakout of 56220 would call for 55380 and 54890.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 55405 and 56323). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 56665).
Supports and resistances:
59460 **
58970 *
58470 **
57970
56968 last
56550
56220 **
55380 *
54890 **
Our preference: our next up target stands at 58470.
Alternative scenario: the downside breakout of 56220 would call for 55380 and 54890.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 55405 and 56323). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 56665).
Supports and resistances:
59460 **
58970 *
58470 **
57970
56968 last
56550
56220 **
55380 *
54890 **
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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