Market Analysis of Bitcoin on Tuesday 29 August 2023

2023-08-29 10:17Source:BtcDana

Bitcoin / Dollar intraday: under pressure below 26200

 

Our pivot point is at 26200.

 

Our preference:

Under pressure below 26200.

 

Alternative scenario:

Above 26200, look for 26460 and 26610.

 

Comment:

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 26072 and 26037).

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