If we look at the RSI, a Bullish Divergence has appeared, indicating that a strengthening retrace may occur in the near term. However, as long as it does not break above the level of 95910.87, there is potential for it to continue its bearish bias today.
Key Levels:
1. Resistance. 2 : 95910.87
2. Resistance. 1 : 91583.41
3. Pivot : 88818.09
4. Support. 1 : 84490.63
5. Support. 2 : 81725.31
Tactical Scenario:
Pressure Zone: If the price breaks down and closes below 84,490.63, it may continue to weaken down to 81,725.31.
Momentum Extension Bias: If 81,725.31 is broken and closes below that level, Bitcoin could continue its bearish bias down to 77,397.85.
Invalidation Level/ Bias Revision:
The downside bias is restrained if the price of Bitcoin strengthens and breaks out to close above 95,910.87.
Technical Summary:
EMA(50) : 88548.42
EMA(200): 91512.99
RSI(14) : 32.95 + Bullish Divergent
Economic News Release Schedule:
Tonight, the following economic data will be released from the United States:
US - Flash Manufacturing PMI - 21:45 WIB
US - Flash Services PMI - 21:45 WIB
US - Revised UoM Consumer Sentiment - 22:00 WIB
US - Final Wholesale Inventories m/m - 22:00 WIB
US - Revised UoM Inflation Expectations-22:00 WIB
US - CB Leading Index m/m - Tentative
The material has been provided by InstaForex Company - www.instaforex.com
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[Bitcoin]
If we look at the RSI, a Bullish Divergence has appeared, indicating that a strengthening retrace may occur in the near term. However, as long as it does not break above the level of 95910.87, there is potential for it to continue its bearish bias today.
Key Levels:
1. Resistance. 2 : 95910.87
2. Resistance. 1 : 91583.41
3. Pivot : 88818.09
4. Support. 1 : 84490.63
5. Support. 2 : 81725.31
Tactical Scenario:
Pressure Zone: If the price breaks down and closes below 84,490.63, it may continue to weaken down to 81,725.31.
Momentum Extension Bias: If 81,725.31 is broken and closes below that level, Bitcoin could continue its bearish bias down to 77,397.85.
Invalidation Level/ Bias Revision:
The downside bias is restrained if the price of Bitcoin strengthens and breaks out to close above 95,910.87.
Technical Summary:
EMA(50) : 88548.42
EMA(200): 91512.99
RSI(14) : 32.95 + Bullish Divergent
Economic News Release Schedule:
Tonight, the following economic data will be released from the United States:
US - Flash Manufacturing PMI - 21:45 WIB
US - Flash Services PMI - 21:45 WIB
US - Revised UoM Consumer Sentiment - 22:00 WIB
US - Final Wholesale Inventories m/m - 22:00 WIB
US - Revised UoM Inflation Expectations-22:00 WIB
US - CB Leading Index m/m - Tentative
The material has been provided by InstaForex Company - www.instaforex.com