Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Bitcoin’s movements are witnessing a bearish trend in short intervals, after it reached its highest level during the previous trading session 59,504.
On the technical side, we tend to be negative over the coming hours, relying on the negative pressure of the simple moving averages in addition to the negativity of Stochastic.
Activating short positions needs to witness a clear break of the support level 55,130 to target 53,760, knowing that breaking the latter extends losses to visit 50,600. Skip to the upside and rise above the resistance level of 59,510 paves the way for Bitcoin towards 62,060 initially.
Note: the level of risk is high and all scenarios are on the table.
| S1: 55130 | R1: 58870 |
| S2: 50580 | R2: 62060 |
| S3: 47395 | R3: 64610 |
