Bitcoin Intraday: look for a drop towards 107050 before a bounce
Bitcoin (BTC/USD)
-89.96-0.08%
look for a drop towards 107050 before a bounce.
107050 is our pivot point.
Our preference: look for a drop towards 107050 before a bounce.
Alternative scenario: the downside breakout of 107050 would call for 105790 and 105040.
Comment: the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 108130 and 108078).
Supports and resistances:
111940 **
111190 *
110440 **
109680
108184 last
107550
107050 **
105790 *
105040 **
Our preference: look for a drop towards 107050 before a bounce.
Alternative scenario: the downside breakout of 107050 would call for 105790 and 105040.
Comment: the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 108130 and 108078).
Supports and resistances:
111940 **
111190 *
110440 **
109680
108184 last
107550
107050 **
105790 *
105040 **
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