Market Analysis of Bitcoin on Thursday 11 May 2023

2023-05-11 09:47Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 28170 is resistance

 

28170 is our pivot point.

 

Our preference:

The downside prevails as long as 28170 is resistance.

 

Alternative scenario:

Above 28170, look for 28690 and 29000.

 

Comment:

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 27838 and 27724).

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