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Bitcoin / Dollar intraday: the upside prevails as long as 59330 is support

2024-02-28
235

Our pivot point is at 59330.

Our preference: the upside prevails as long as 59330 is support.

Alternative scenario: below 59330, expect 58370 and 57790.

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 58880 and 57752).

Supports and resistances:

63100 **

62520 *

61950 **

61370

60192 last

59710

59330 **

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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