Bitcoin Short Term: the downside prevails as long as 63,261 is resistance
Bitcoin (BTC/USD)
+452.56+0.76%
the downside prevails as long as 63,261 is resistance
Our pivot point is at 63,261.
Our preference: the downside prevails as long as 63,261 is resistance
Alternative scenario: above 63,261, look for 66,836 and 68,965.
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 62,841 and 69,398).
Supports and resistances:
68,965 **
66,836 *
63,261 **
59,219 last
54,706
52,634 **
50,562 *
Our preference: the downside prevails as long as 63,261 is resistance
Alternative scenario: above 63,261, look for 66,836 and 68,965.
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 62,841 and 69,398).
Supports and resistances:
68,965 **
66,836 *
63,261 **
59,219 last
54,706
52,634 **
50,562 *
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