Bitcoin Intraday: technical rebound towards 70690 before a new drop

May 23, 2024 8:53 AM

technical rebound towards 70690 before a new drop.

Our pivot point stands at 70690.

Our preference: technical rebound towards 70690 before a new drop.

Alternative scenario: above 70690, look for 72040 and 72840.

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 its 20 period moving average (69446) but under its 50 period moving average (69664).

Supports and resistances:
72840 **
72040 *
70690 **
70160
69618 last
68010
67210 **
66410 *
65610 **

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