Bitcoin Intraday: the upside prevails as long as 75200 is support
Bitcoin (BTC/USD)
+2116.96+2.82%
the upside prevails as long as 75200 is support.
Our pivot point is at 75200.
Our preference: the upside prevails as long as 75200 is support.
Alternative scenario: the downside breakout of 75200 would call for 73970 and 73240.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 75434 and 74999).
Supports and resistances:
79960 *
79210 **
78470
76686 last
75200 **
73970 *
73240 **
Our preference: the upside prevails as long as 75200 is support.
Alternative scenario: the downside breakout of 75200 would call for 73970 and 73240.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 75434 and 74999).
Supports and resistances:
79960 *
79210 **
78470
76686 last
75200 **
73970 *
73240 **
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