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Bitcoin Intraday: the upside prevails as long as 58700 is support
Aug 8, 2024 9:10 PM
the upside prevails as long as 58700 is support.
Our pivot point stands at 58700.
Our preference: the upside prevails as long as 58700 is support.
Alternative scenario: the downside breakout of 58700 would call for 57820 and 57300.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 58607 and 57228).
Supports and resistances:
62430 **
61910 *
61380 **
60860
59384 last
59040
58700 **
57820 *
57300 **
Our preference: the upside prevails as long as 58700 is support.
Alternative scenario: the downside breakout of 58700 would call for 57820 and 57300.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 58607 and 57228).
Supports and resistances:
62430 **
61910 *
61380 **
60860
59384 last
59040
58700 **
57820 *
57300 **
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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