Bitcoin Short Term: above its upper Bollinger band
Dec 17, 2024 11:05 AM
the upside prevails as long as 95520 is support.
Our pivot point stands at 95520.
Our preference:
the upside prevails as long as 95520 is support.
Alternative scenario:
the downside breakout of 95520 would call for 82580 and 74870.
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 99556 and 90277). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (106323).
Supports and resistances:
146620 **
138790 *
130950 **
123120
107164 last
100610
95520 **
82580 *
74870 **
Our preference:
the upside prevails as long as 95520 is support.
Alternative scenario:
the downside breakout of 95520 would call for 82580 and 74870.
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 99556 and 90277). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (106323).
Supports and resistances:
146620 **
138790 *
130950 **
123120
107164 last
100610
95520 **
82580 *
74870 **
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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