Bitcoin Intraday: the downside prevails as long as 119560 is resistance
Jul 23, 2025 12:59 PM
the downside prevails as long as 119560 is resistance.
Our pivot point is at 119560.
Our preference:
the downside prevails as long as 119560 is resistance.
Alternative scenario:
the upside breakout of 119560, would call for 120750 and 121460.
Comment:
the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 118545 and 119040).
Supports and resistances:
121460 **
120750 *
119560 **
119090
118011 last
116450
115750 **
115040 *
114330 **
Our preference:
the downside prevails as long as 119560 is resistance.
Alternative scenario:
the upside breakout of 119560, would call for 120750 and 121460.
Comment:
the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 118545 and 119040).
Supports and resistances:
121460 **
120750 *
119560 **
119090
118011 last
116450
115750 **
115040 *
114330 **
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