Bitcoin Intraday: the downside prevails as long as 101250 is resistance
Jan 20, 2025 1:05 AM
the downside prevails as long as 101250 is resistance.
Our pivot point stands at 101250.
Our preference:
the downside prevails as long as 101250 is resistance.
Alternative scenario:
the upside breakout of 101250, would call for 102790 and 103700.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 103696 and 104310).
Supports and resistances:
103700 **
102790 *
101250 **
100640
99914 last
97770
96860 **
95950 *
95030 **
Our preference:
the downside prevails as long as 101250 is resistance.
Alternative scenario:
the upside breakout of 101250, would call for 102790 and 103700.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 103696 and 104310).
Supports and resistances:
103700 **
102790 *
101250 **
100640
99914 last
97770
96860 **
95950 *
95030 **
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