Market Analysis of Bitcoin on Wednesday 17 May 2023

2023-05-17 10:12Source:BtcDana

Bitcoin / Dollar intraday: rebound towards 27710

 

26730 is our pivot point.

 

Our preference:

Rebound towards 27710.

 

Alternative scenario:

The downside breakout of 26730 would call for 26350 and 26130.

 

Comment:

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (27015) but under its 50 period moving average (27066).

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