Bitcoin Intraday: the upside prevails as long as 82870 is support
Mar 19, 2025 2:02 PM
the upside prevails as long as 82870 is support.
Our pivot point stands at 82870.
Our preference:
the upside prevails as long as 82870 is support.
Alternative scenario:
the downside breakout of 82870 would call for 81280 and 80330.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 83518 and 82740).
Supports and resistances:
88860 **
87910 *
86960 **
86020
84120 last
83490
82870 **
81280 *
80330 **
Our preference:
the upside prevails as long as 82870 is support.
Alternative scenario:
the downside breakout of 82870 would call for 81280 and 80330.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 83518 and 82740).
Supports and resistances:
88860 **
87910 *
86960 **
86020
84120 last
83490
82870 **
81280 *
80330 **
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