Bitcoin Intraday: the upside prevails as long as 94740 is support
May 1, 2025 1:02 PM
the upside prevails as long as 94740 is support.
Our pivot point is at 94740.
Our preference:
the upside prevails as long as 94740 is support.
Alternative scenario:
the downside breakout of 94740 would call for 92650 and 91400.
Comment:
the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 95464 and 94746).
Supports and resistances:
102630 **
101380 *
100130 **
98880
96390 last
95570
94740 **
92650 *
91400 **
Our preference:
the upside prevails as long as 94740 is support.
Alternative scenario:
the downside breakout of 94740 would call for 92650 and 91400.
Comment:
the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 95464 and 94746).
Supports and resistances:
102630 **
101380 *
100130 **
98880
96390 last
95570
94740 **
92650 *
91400 **
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