Bitcoin Intraday: below its lower Bollinger band
Sep 3, 2024 8:47 AM
target 56580.
59990 is our pivot point.
Our preference:
target 56580.
Alternative scenario:
the upside breakout of 59990, would call for 61190 and 61900.
Comment:
the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (59136) but above its 50 period moving average (58776). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 58795).
Supports and resistances:
61900 **
61190 *
59990 **
59520
58795 last
57290
56580 **
55880 *
55170 **
Our preference:
target 56580.
Alternative scenario:
the upside breakout of 59990, would call for 61190 and 61900.
Comment:
the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (59136) but above its 50 period moving average (58776). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 58795).
Supports and resistances:
61900 **
61190 *
59990 **
59520
58795 last
57290
56580 **
55880 *
55170 **
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