Bitcoin Intraday: look for a drop towards 116890 before a bounce
Jul 19, 2025 7:47 PM
look for a drop towards 116890 before a bounce.
Our pivot point is at 116890.
Our preference:
look for a drop towards 116890 before a bounce.
Alternative scenario:
the downside breakout of 116890 would call for 115640 and 114900.
Comment:
the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 118144 and 118087).
Supports and resistances:
121910 **
121160 *
120420 **
119670
118175 last
117380
116890 **
115640 *
114900 **
Our preference:
look for a drop towards 116890 before a bounce.
Alternative scenario:
the downside breakout of 116890 would call for 115640 and 114900.
Comment:
the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 118144 and 118087).
Supports and resistances:
121910 **
121160 *
120420 **
119670
118175 last
117380
116890 **
115640 *
114900 **
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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