Bitcoin Gold / Dollar may rise to 26.04 - 26.51

Our pivot point stands at 24.24.

Our preference

The upside prevails as long as 24.24 is support.

Alternative scenario

The downside breakout of 24.24 would call for 23.46 and 22.99.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 24.30 and 23.93).

Supports and resistances

27.44 **

26.98 *

26.51 **

26.04

25.02 last

24.54

24.24 **

23.46 *

22.99 **

Number of asterisks represents the strength of support and resistance levels.