Bitcoin Intraday: below its lower Bollinger band
Feb 11, 2025 2:02 PM
the downside prevails as long as 97930 is resistance.
Our pivot point stands at 97930.
Our preference:
the downside prevails as long as 97930 is resistance.
Alternative scenario:
the upside breakout of 97930, would call for 99370 and 100220.
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 97982 and 97712). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 97052).
Supports and resistances:
100220 **
99370 *
97930 **
97370
96804 last
95100
94240 **
93390 *
92530 **
Our preference:
the downside prevails as long as 97930 is resistance.
Alternative scenario:
the upside breakout of 97930, would call for 99370 and 100220.
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 97982 and 97712). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 97052).
Supports and resistances:
100220 **
99370 *
97930 **
97370
96804 last
95100
94240 **
93390 *
92530 **
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