Market Analysis of Bitcoin on Thursday 4 May 2023

2023-05-04 10:06Source:BtcDana

Bitcoin / Dollar intraday: rebound towards 29390

 

Our pivot point is at 27870.

 

Our preference:

Rebound towards 29390.

 

Alternative scenario:

The downside breakout of 27870 would call for 27320 and 27000.

 

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 is trading under both its 20 and 50 period moving average (respectively at 28439 and 28550).

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