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Bitcoin Intraday: the downside prevails as long as 58140 is resistance
Aug 15, 2024 7:50 PM
the downside prevails as long as 58140 is resistance.
Our pivot point stands at 58140.
Our preference: the downside prevails as long as 58140 is resistance.
Alternative scenario: above 58140, look for 59260 and 59920.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). 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 58820 and 58673).
Supports and resistances:
59920 **
59260 *
58140 **
57700
57190 last
55410
54750 **
54090 *
53440 **
Our preference: the downside prevails as long as 58140 is resistance.
Alternative scenario: above 58140, look for 59260 and 59920.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). 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 58820 and 58673).
Supports and resistances:
59920 **
59260 *
58140 **
57700
57190 last
55410
54750 **
54090 *
53440 **
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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