Bitcoin / Dollar intraday: the upside prevails as long as 16340 is support
16340 is our pivot point.
Our preference:
The upside prevails as long as 16340 is support.
Alternative scenario:
The downside breakout of 16340 would call for 15970 and 15750.
Comment:
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 16598 and 16587).
This material is from Trading Central and is being posted with permission from Trading Central. The views expressed in this material are solely those of the author and/or Trading Central and BTCDana & Forexdana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice.