Market Analysis of Bitcoin on Thursday 31 August 2023

2023-08-31 10:38Source:BtcDana

Bitcoin / Dollar intraday: rebound

 

Our pivot point stands at 27090.

 

Our preference:

Rebound.

 

Alternative scenario:

The downside breakout of 27090 would call for 26820 and 26670.

 

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (27224) but under its 50 period moving average (27356).

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