Bitcoin Intraday: the upside prevails as long as 68660 is support
Jun 3, 2024 2:26 PM
the upside prevails as long as 68660 is support.
Our pivot point is at 68660.
Our preference: the upside prevails as long as 68660 is support.
Alternative scenario: the downside breakout of 68660 would call for 67350 and 66570.
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 above its 20 and 50 period moving average (respectively at 69046 and 68397).
Supports and resistances:
73780 **
73000 *
72220 **
71440
69851 last
69170
68660 **
67350 *
66570 **
Our preference: the upside prevails as long as 68660 is support.
Alternative scenario: the downside breakout of 68660 would call for 67350 and 66570.
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 above its 20 and 50 period moving average (respectively at 69046 and 68397).
Supports and resistances:
73780 **
73000 *
72220 **
71440
69851 last
69170
68660 **
67350 *
66570 **
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