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Bitcoin / Dollar intraday: above its upper Bollinger band

2023-12-28
841

Our pivot point stands at 42820.

Our preference: the upside prevails as long as 42820 is support.

Alternative scenario: below 42820, expect 42180 and 41800.

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 trading above both its 20 and 50 period moving average (respectively at 43063 and 42700). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (43375).

Supports and resistances:

45410 **

45030 *

44650 **

44260

43500 last

43070

42820 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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