Bitcoin Intraday: the upside prevails as long as 87830 is support
Nov 12, 2024 1:05 AM
the upside prevails as long as 87830 is support.
Our pivot point is at 87830.
Our preference:
the upside prevails as long as 87830 is support.
Alternative scenario:
below 87830, expect 86690 and 86020.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 86733 and 83652).
Supports and resistances:
92540 **
91860 *
91180 **
90510
89150 last
88270
87830 **
86690 *
86020 **
Our preference:
the upside prevails as long as 87830 is support.
Alternative scenario:
below 87830, expect 86690 and 86020.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 86733 and 83652).
Supports and resistances:
92540 **
91860 *
91180 **
90510
89150 last
88270
87830 **
86690 *
86020 **
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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