Market Analysis of Bitcoin on Friday 4 August 2023

2023-08-04 10:36Source:BtcDana

Bitcoin / Dollar intraday: the upside prevails as long as 28910 is support

 

28910 is our pivot point.

 

Our preference:

The upside prevails as long as 28910 is support.

 

Alternative scenario:

The downside breakout of 28910 would call for 28520 and 28290.

 

Comment:

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 29192 and 29152).

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