Bitcoin Needs Some Caution

Positive trades are dominated Bitcoin, to record its highest price during early trading of the current session at 46,516.

On the technical side, there is a conflict between the positive motive coming from the 50-day moving average, and the negativity on the stochastic indicator.

We will remain neutral due to the high level of risks compared to the expected return, in order to be in front of one of the following scenarios: Activating short positions requires breaking 46,040/46,030 to target 45,790.

Activating long positions needs to break 46,520 , which stimulates the price to visit 46,760.

Note: The level of risk is high and all scenarios are on the table.

S1: 46040	R1: 46520
S2: 45790	R2: 46760
S3: 45560	R3: 47000