Bitcoin Intraday: the upside prevails as long as 98110 is support
May 8, 2025 8:41 AM
the upside prevails as long as 98110 is support.
Our pivot point stands at 98110.
Our preference:
the upside prevails as long as 98110 is support.
Alternative scenario:
below 98110, expect 96340 and 95280.
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 98568 and 97529).
Supports and resistances:
104840 **
103780 *
102730 **
101670
99550 last
98810
98110 **
96340 *
95280 **
Our preference:
the upside prevails as long as 98110 is support.
Alternative scenario:
below 98110, expect 96340 and 95280.
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 98568 and 97529).
Supports and resistances:
104840 **
103780 *
102730 **
101670
99550 last
98810
98110 **
96340 *
95280 **
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Bitcoin
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