Bitcoin Intraday: above its upper Bollinger band
Dec 21, 2024 7:50 AM
the upside prevails as long as 97510 is support.
97510 is our pivot point.
Our preference:
the upside prevails as long as 97510 is support.
Alternative scenario:
the downside breakout of 97510 would call for 95760 and 94720.
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 97782 and 96621). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 99081).
Supports and resistances:
104820 **
103770 *
102720 **
101670
99450 last
98200
97510 **
95760 *
94720 **
Our preference:
the upside prevails as long as 97510 is support.
Alternative scenario:
the downside breakout of 97510 would call for 95760 and 94720.
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 97782 and 96621). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 99081).
Supports and resistances:
104820 **
103770 *
102720 **
101670
99450 last
98200
97510 **
95760 *
94720 **
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