BTCUSD - Intraday - We look to Sell at 58842 (stop at 60016)
Momentum is flat, highlighting the lack of clear direction.
Short term bias is mildly bearish.
We look for a temporary move higher.
Pivot resistance is at 59000.
We are trading at overbought extremes.
A lower correction is expected.
Preferred trade is to sell into rallies.
Our profit targets will be 55420 and 54520
Resistance: 57000 / 58500 / 59000
Support: 56000 / 55000 / 54000
Momentum is flat, highlighting the lack of clear direction.
Short term bias is mildly bearish.
We look for a temporary move higher.
Pivot resistance is at 59000.
We are trading at overbought extremes.
A lower correction is expected.
Preferred trade is to sell into rallies.
Our profit targets will be 55420 and 54520
Resistance: 57000 / 58500 / 59000
Support: 56000 / 55000 / 54000
