Bitcoin Intraday: the downside prevails as long as 98520 is resistance
Dec 19, 2024 8:50 PM
the downside prevails as long as 98520 is resistance.
Our pivot point is at 98520.
Our preference:
the downside prevails as long as 98520 is resistance.
Alternative scenario:
the upside breakout of 98520, would call for 100240 and 101260.
Comment:
the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 100072 and 100651).
Supports and resistances:
101260 **
100240 *
98520 **
97850
96969 last
93610
92600 **
91590 *
90590 **
Our preference:
the downside prevails as long as 98520 is resistance.
Alternative scenario:
the upside breakout of 98520, would call for 100240 and 101260.
Comment:
the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 100072 and 100651).
Supports and resistances:
101260 **
100240 *
98520 **
97850
96969 last
93610
92600 **
91590 *
90590 **
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