Market Analysis of Bitcoin on Friday 5 May 2023

2023-05-05 10:19Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 29350 is resistance

 

Our pivot point stands at 29350.

 

Our preference:

The downside prevails as long as 29350 is resistance.

 

Alternative scenario:

Above 29350, look for 29900 and 30240.

 

Comment:

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 28952 and 28975).

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