Bitcoin Intraday: above its upper Bollinger band
Bitcoin (BTC/USD)
+506.27+0.72%
the upside prevails as long as 69420 is support.
Our pivot point is at 69420.
Our preference: the upside prevails as long as 69420 is support.
Alternative scenario: the downside breakout of 69420 would call for 67950 and 67070.
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 above its 20 and 50 period moving average (respectively at 69967 and 69808). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 70788).
Supports and resistances:
75280 **
74400 *
73520 **
72640
70847 last
70000
69420 **
67950 *
67070 **
Our preference: the upside prevails as long as 69420 is support.
Alternative scenario: the downside breakout of 69420 would call for 67950 and 67070.
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 above its 20 and 50 period moving average (respectively at 69967 and 69808). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 70788).
Supports and resistances:
75280 **
74400 *
73520 **
72640
70847 last
70000
69420 **
67950 *
67070 **
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