Bitcoin Intraday: the downside prevails as long as 77850 is resistance
Bitcoin (BTC/USD)
-1311.54-1.68%
the downside prevails as long as 77850 is resistance.
77850 is our pivot point.
Our preference: the downside prevails as long as 77850 is resistance.
Alternative scenario: the upside breakout of 77850, would call for 78840 and 79430.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 77821 and 77997).
Supports and resistances:
79430 **
78840 *
77850 **
77019 last
75840
75260 **
74670 *
Our preference: the downside prevails as long as 77850 is resistance.
Alternative scenario: the upside breakout of 77850, would call for 78840 and 79430.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 77821 and 77997).
Supports and resistances:
79430 **
78840 *
77850 **
77019 last
75840
75260 **
74670 *
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