Market Analysis of Bitcoin on Wednesday 08 March 2023

2023-03-08 10:11Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 22430 is resistance

 

Our pivot point stands at 22430.

 

Our preference:

The downside prevails as long as 22430 is resistance.

 

Alternative scenario:

The upside breakout of 22430, would call for 22810 and 23040.

 

Comment:

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 22273 and 22366)

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