Market Analysis of Bitcoin on Tuesday 16 May 2023

2023-05-16 11:05Source:BtcDana

Bitcoin / Dollar intraday: as long as 26970 is support look for 28340

 

26970 is our pivot point.

 

Our preference:

As long as 26970 is support look for 28340.

 

Alternative scenario:

Below 26970, expect 26460 and 26150.

 

Comment:

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is trading under its 20 period moving average (27418) but above its 50 period moving average (27252).

 

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