Bitcoin Intraday: look for a drop towards 89880 before a bounce
Nov 19, 2024 1:05 AM
look for a drop towards 89880 before a bounce.
Our pivot point stands at 89880.
Our preference:
look for a drop towards 89880 before a bounce.
Alternative scenario:
the downside breakout of 89880 would call for 88370 and 87460.
Comment:
the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under its 20 period moving average (91225) but above its 50 period moving average (91008).
Supports and resistances:
95690 **
94790 *
93880 **
92980
91173 last
90480
89880 **
88370 *
87460 **
Our preference:
look for a drop towards 89880 before a bounce.
Alternative scenario:
the downside breakout of 89880 would call for 88370 and 87460.
Comment:
the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under its 20 period moving average (91225) but above its 50 period moving average (91008).
Supports and resistances:
95690 **
94790 *
93880 **
92980
91173 last
90480
89880 **
88370 *
87460 **
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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