Market Analysis of Bitcoin on Tuesday 10 January 2023

2023-01-10 10:11Source:BtcDana

Bitcoin / Dollar intraday: target 16820

 

17420 is our pivot point.

 

Our preference:

Target 16820.

 

Alternative scenario:

The upside breakout of 17420, would call for 17640 and 17770.

 

Comment:

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under its 20 period moving average (17284) but above its 50 period moving average (17204).

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