Bitcoin Intraday: The upside prevails as long as 85,290 is support
Bitcoin (BTC/USD)
-274.88-0.33%
The upside prevails as long as 85,290 is support, with 88,152 and 88,904 as targets
Our pivot point is at 85,290.
Our preference: The upside prevails as long as 85,290 is support, with 88,152 and 88,904 as targets
Alternative scenario: below 85,290, expect 84,032 and 83,283.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 85,082 and 84,452).
Supports and resistances:
89,656 *
88,904 **
88,152
86,322 last
85,290 **
84,032 *
83,283 **
Our preference: The upside prevails as long as 85,290 is support, with 88,152 and 88,904 as targets
Alternative scenario: below 85,290, expect 84,032 and 83,283.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 85,082 and 84,452).
Supports and resistances:
89,656 *
88,904 **
88,152
86,322 last
85,290 **
84,032 *
83,283 **
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