Bitcoin Tends to be Negative

The current moves of Bitcoin are witnessing a slight bullish tendency after it succeeded in benefiting from the support level of 52,200 to see Bitcoin stabilizing near the highest level during the session at 52,800.

On the technical side, the 50-day moving average is still a hindrance in front of the pair, as we find the stochastic indicator providing negative crossover signals.

Therefore, with trading remaining below 52,840, the bearish bias is likely today, targeting 52,340, and breaking it will open the way again for Bitcoin towards 52,200.

Jumping to the upside and confirming the breach of 52,845 is able to thwart the bearish tendency, and we may witness positive moves with an initial target at 53,260. Note: The risk level is high and all scenarios are presented.

S1: 52345	R1: 53010
S2: 51930	R2: 53260
S3: 51680	R3: 53670