Market Analysis of Bitcoin on Monday 9 October 2023

2023-10-09 10:44Source:BtcDana

Bitcoin / Dollar intraday: technical rebound towards 28200 before a new drop

 

28200 is our pivot point.

 

Our preference:

Technical rebound towards 28200 before a new drop.

 

Alternative scenario:

The upside breakout of 28200, would call for 28540 and 28740.

 

Comment:

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (27917) but under its 50 period moving average (27934).

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