Bitcoin Intraday: the upside prevails as long as 55930 is support
Sep 9, 2024 7:49 PM
the upside prevails as long as 55930 is support.
Our pivot point stands at 55930.
Our preference:
the upside prevails as long as 55930 is support.
Alternative scenario:
below 55930, expect 54780 and 54090.
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 55799 and 55236).
Supports and resistances:
60440 **
59750 *
59060 **
58380
56960 last
56380
55930 **
54780 *
54090 **
Our preference:
the upside prevails as long as 55930 is support.
Alternative scenario:
below 55930, expect 54780 and 54090.
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 55799 and 55236).
Supports and resistances:
60440 **
59750 *
59060 **
58380
56960 last
56380
55930 **
54780 *
54090 **
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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