Market Analysis of BITCOIN on Wednesday 12 October 2022

2022-10-12 09:45Source:BtcDana

Bitcoin / Dollar intraday: rebound towards 19770

 

Our pivot point is at 18740.

 

Our preference:

Rebound towards 19770.

 

Alternative scenario:

The downside breakout of 18740 would call for 18360 and 18120.

 

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (19058) but below its 50 period moving average (19067).

https://asset.onetrader.online/upload/file/1665504000000/1665539172621.png

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