Market Analysis of Bitcoin on Wednesday 04 January 2023

2023-01-04 10:08Source:BtcDana

Bitcoin / Dollar intraday: rebound towards 17290

 

Our pivot point stands at 16380.

 

Our preference:

Rebound towards 17290.

 

Alternative scenario:

Below 16380, expect 16020 and 15810.

 

Comment:

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 16664 and 16689).

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