Market Analysis of Bitcoin on Wednesday 23 August 2023

2023-08-23 10:34Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 26060 is resistance

 

Our pivot point stands at 26060.

 

Our preference:

The downside prevails as long as 26060 is resistance.

 

Alternative scenario:

The upside breakout of 26060, would call for 26320 and 26470.

 

Comment:

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 25959 and 26029).

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