Bitcoin Intraday: look for a drop towards 68200 before a bounce
Jun 4, 2024 3:14 AM
look for a drop towards 68200 before a bounce.
Our pivot point stands at 68200.
Our preference: look for a drop towards 68200 before a bounce.
Alternative scenario: the downside breakout of 68200 would call for 66980 and 66250.
Comment: the RSI is above 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 above its 20 and 50 period moving average (respectively at 69088 and 69023).
Supports and resistances:
72820 **
72100 *
71370 **
70650
69197 last
68680
68200 **
66980 *
66250 **
Our preference: look for a drop towards 68200 before a bounce.
Alternative scenario: the downside breakout of 68200 would call for 66980 and 66250.
Comment: the RSI is above 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 above its 20 and 50 period moving average (respectively at 69088 and 69023).
Supports and resistances:
72820 **
72100 *
71370 **
70650
69197 last
68680
68200 **
66980 *
66250 **
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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