Market Analysis of Bitcoin on Monday 7 August 2023

2023-08-07 10:53Source:BtcDana

Bitcoin / Dollar intraday: the upside prevails as long as 28740 is support

 

Our pivot point stands at 28740.

 

Our preference:

The upside prevails as long as 28740 is support.

 

Alternative scenario:

Below 28740, expect 28360 and 28130.

 

Comment:

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 29013 and 29029).

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