Trade Ideas,#BTC☀ shows a bullish candle in 30,45,1 hour time frame but be cautious BTC is at a decision point.
Our pivot point stands at 58220.
Our preference
Rebound.
Alternative scenario
The downside breakout of 58220 would call for 57070 and 56380.
Comment
The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (59055) but under its 50 period moving average (59251).
Supports and resistances
62630 **
61950 *
61260 **
60570
59151 last
58670
58220 **
57070 *
56380 **
Number of asterisks represents the strength of support and resistance levels.