Bitcoin Facing Mixed Signals

Record gains achieved by Bitcoin within a gradual rise to the upside, recording 49,474, its highest level during today’s trading session.

On the technical side, there is a conflict between the negativity of the stochastic and the positive motive of the 50-day moving average. We will be neutral due to the high level of risk compared to the expected return, in addition to the conflict of technical signals, so that we will face one of the following scenarios:

To continue the rise, we must witness the breach of 49,480 to target 49,690, then 49,920. Breaking 48,870 leads the price to strong negative pressure, targeting 48,650.

Note: all scenarios are on the table.

S1: 48870	R1: 49390
S2: 48650	R2: 49695
S3: 48350	R3: 49920