Market Analysis of Bitcoin on Wednesday 5 April 2023

2023-04-05 10:08Source:BtcDana

Bitcoin / Dollar intraday: as long as 27700 is support look for 29220

 

Our pivot point stands at 27700.

 

Our preference:

As long as 27700 is support look for 29220.

 

Alternative scenario:

The downside breakout of 27700 would call for 27110 and 26770.

 

Comment:

The RSI is above 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 28154 and 28077).

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