Market Analysis of Bitcoin on Wednesday 10 January 2024

2024-01-10 10:11Source:BtcDana

Bitcoin / Dollar intraday: look for a drop towards 46080 before a bounce

 

Our pivot point stands at 46080.

 

Our preference:

Look for a drop towards 46080 before a bounce.

 

Alternative scenario:

The downside breakout of 46080 would call for 45280 and 44810.

 

Comment:

The RSI is above 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price stands above its 20 period moving average (46719) but below its 50 period moving average (46771).

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