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Bitcoin / Dollar intraday: above its upper Bollinger band

2024-04-04
202

Our pivot point stands at 66080.

Our preference: the upside prevails as long as 66080 is support.

Alternative scenario: below 66080, expect 64610 and 63740.

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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 66181 and 66086). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (67254).

Supports and resistances:

71760 **

70880 *

70000 **

69130

67259 last

66660

66080 **

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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