Market Analysis of Bitcoin on Wednesday 24 May 2023

2023-05-24 10:12Source:BtcDana

Bitcoin / Dollar intraday: rebound towards 27850

 

Our pivot point is at 26940.

 

Our preference:

Rebound towards 27850.

 

Alternative scenario:

The downside breakout of 26940 would call for 26600 and 26390.

 

Comment:

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 27222 and 27234).

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