Market Analysis of Bitcoin on Friday 11 August 2023

2023-08-11 10:16Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 29660 is resistance

 

Our pivot point stands at 29660.

 

Our preference:

The downside prevails as long as 29660 is resistance.

 

Alternative scenario:

The upside breakout of 29660, would call for 29990 and 30180.

 

Comment:

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 29467 and 29503).

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