Market Analysis of Bitcoin on Thursday 12 October 2023

2023-10-12 10:36Source:BtcDana

Bitcoin / Dollar intraday: rebound

 

Our pivot point is at 26590.

 

Our preference:

Rebound.

 

Alternative scenario:

Below 26590, expect 26270 and 26070.

 

Comment:

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (26756) but below its 50 period moving average (27016).

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