Bitcoin Intraday: look for a drop towards 68000 before a bounce
May 26, 2024 7:14 AM
look for a drop towards 68000 before a bounce.
68000 is our pivot point.
Our preference: look for a drop towards 68000 before a bounce.
Alternative scenario: the downside breakout of 68000 would call for 66660 and 65870.
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 below its 20 period moving average (69082) but above its 50 period moving average (69064).
Supports and resistances:
73080 **
72280 *
71480 **
70690
69077 last
68520
68000 **
66660 *
65870 **
Our preference: look for a drop towards 68000 before a bounce.
Alternative scenario: the downside breakout of 68000 would call for 66660 and 65870.
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 below its 20 period moving average (69082) but above its 50 period moving average (69064).
Supports and resistances:
73080 **
72280 *
71480 **
70690
69077 last
68520
68000 **
66660 *
65870 **
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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