Market Analysis of Bitcoin on Thursday 20 July 2023

2023-07-20 10:19Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 30250 is resistance

 

30250 is our pivot point.

 

Our preference:

The downside prevails as long as 30250 is resistance.

 

Alternative scenario:

The upside breakout of 30250, would call for 30670 and 30920.

 

Comment:

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 29945 and 29981).

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