Bitcoin Intraday: above its upper Bollinger band
Nov 1, 2024 2:03 PM
the upside prevails as long as 70330 is support.
Our pivot point is at 70330.
Our preference:
the upside prevails as long as 70330 is support.
Alternative scenario:
the downside breakout of 70330 would call for 69320 and 68730.
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 69778 and 70038). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (70939).
Supports and resistances:
74130 **
73530 *
72930 **
72340
71137 last
70720
70330 **
69320 *
68730 **
Our preference:
the upside prevails as long as 70330 is support.
Alternative scenario:
the downside breakout of 70330 would call for 69320 and 68730.
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 69778 and 70038). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (70939).
Supports and resistances:
74130 **
73530 *
72930 **
72340
71137 last
70720
70330 **
69320 *
68730 **
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.
Related Instruments
Bitcoin
90647.75
104.88999999999942
+11.60%
