Market Analysis of Bitcoin on Friday 5 January 2024

2024-01-05 10:15Source:BtcDana

Bitcoin / Dollar intraday: the upside prevails as long as 43550 is support

 

Our pivot point stands at 43550.

 

Our preference:

The upside prevails as long as 43550 is support.

 

Alternative scenario:

The downside breakout of 43550 would call for 42870 and 42460.

 

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 43807 and 43300).

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