BTCUSD - Intraday - We look to Sell at 57592 (stop at 58755)
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower. Pivot resistance is at 58354.
Bespoke resistance is located at 57500.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
A lower correction is expected.
Our profit targets will be 54376 and 53148
Resistance: 56600 / 57500 / 58150
Support: 55000 / 54000 / 53300
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower. Pivot resistance is at 58354.
Bespoke resistance is located at 57500.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
A lower correction is expected.
Our profit targets will be 54376 and 53148
Resistance: 56600 / 57500 / 58150
Support: 55000 / 54000 / 53300
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