Bitcoin Intraday: look for a drop towards 107160 before a bounce
Bitcoin (BTC/USD)
+518.85+0.48%
look for a drop towards 107160 before a bounce.
Our pivot point is at 107160.
Our preference: look for a drop towards 107160 before a bounce.
Alternative scenario: the downside breakout of 107160 would call for 105900 and 105150.
Comment: the RSI is above its neutrality area at 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 above its 20 and 50 period moving average (respectively at 108149 and 108135).
Supports and resistances:
111940 **
111190 *
110440 **
109690
108185 last
107660
107160 **
105900 *
105150 **
Our preference: look for a drop towards 107160 before a bounce.
Alternative scenario: the downside breakout of 107160 would call for 105900 and 105150.
Comment: the RSI is above its neutrality area at 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 above its 20 and 50 period moving average (respectively at 108149 and 108135).
Supports and resistances:
111940 **
111190 *
110440 **
109690
108185 last
107660
107160 **
105900 *
105150 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
