Bitcoin Intraday: the upside prevails as long as 58870 is support
Sep 13, 2024 7:50 PM
the upside prevails as long as 58870 is support.
Our pivot point stands at 58870.
Our preference:
the upside prevails as long as 58870 is support.
Alternative scenario:
below 58870, expect 57630 and 56900.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 58837 and 58358).
Supports and resistances:
63710 **
62970 *
62240 **
61500
59901 last
59350
58870 **
57630 *
56900 **
Our preference:
the upside prevails as long as 58870 is support.
Alternative scenario:
below 58870, expect 57630 and 56900.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 58837 and 58358).
Supports and resistances:
63710 **
62970 *
62240 **
61500
59901 last
59350
58870 **
57630 *
56900 **
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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