Bitcoin Intraday: look for a drop towards 72780 before a bounce
Bitcoin (BTC/USD)
-69.53-0.09%
look for a drop towards 72780 before a bounce.
72780 is our pivot point.
Our preference: look for a drop towards 72780 before a bounce.
Alternative scenario: the downside breakout of 72780 would call for 71970 and 71490.
Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 73449 and 73467).
Supports and resistances:
75400 *
74920 **
74440
73476 last
72780 **
71970 *
71490 **
Our preference: look for a drop towards 72780 before a bounce.
Alternative scenario: the downside breakout of 72780 would call for 71970 and 71490.
Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 73449 and 73467).
Supports and resistances:
75400 *
74920 **
74440
73476 last
72780 **
71970 *
71490 **
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