Bitcoin Intraday: look for a drop towards 118270 before a bounce
Jul 18, 2025 12:59 PM
look for a drop towards 118270 before a bounce.
118270 is our pivot point.
Our preference:
look for a drop towards 118270 before a bounce.
Alternative scenario:
below 118270, expect 117000 and 116250.
Comment:
the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (119639) but above its 50 period moving average (119441).
Supports and resistances:
123270 **
122510 *
121760 **
121010
119500 last
118760
118270 **
117000 *
116250 **
Our preference:
look for a drop towards 118270 before a bounce.
Alternative scenario:
below 118270, expect 117000 and 116250.
Comment:
the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (119639) but above its 50 period moving average (119441).
Supports and resistances:
123270 **
122510 *
121760 **
121010
119500 last
118760
118270 **
117000 *
116250 **
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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