Bitcoin Intraday: look for a drop towards 71270 before a bounce
Bitcoin (BTC/USD)
-191.75-0.26%
look for a drop towards 71270 before a bounce.
71270 is our pivot point.
Our preference: look for a drop towards 71270 before a bounce.
Alternative scenario: the downside breakout of 71270 would call for 69630 and 68660.
Comment: the RSI is above 50. The MACD is negative and below its signal line. 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 72553 and 72503).
Supports and resistances:
77760 **
76790 *
75810 **
74830
72557 last
71910
71270 **
69630 *
68660 **
Our preference: look for a drop towards 71270 before a bounce.
Alternative scenario: the downside breakout of 71270 would call for 69630 and 68660.
Comment: the RSI is above 50. The MACD is negative and below its signal line. 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 72553 and 72503).
Supports and resistances:
77760 **
76790 *
75810 **
74830
72557 last
71910
71270 **
69630 *
68660 **
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