Market Analysis of Bitcoin on Friday 20 October 2023

2023-10-20 10:13Source:BtcDana

Bitcoin / Dollar intraday: the upside prevails as long as 28460 is support

 

Our pivot point is at 28460.

 

Our preference:

The upside prevails as long as 28460 is support.

 

Alternative scenario:

The downside breakout of 28460 would call for 28140 and 27950.

 

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 28584 and 28420).

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