Market Analysis of Bitcoin on Thursday 1 February 2024

2024-02-01 09:52Source:BtcDana

Bitcoin / Dollar intraday: under pressure below 43650

 

Our pivot point is at 43650.

 

Our preference:

Under pressure below 43650.

 

Alternative scenario:

The upside breakout of 43650, would call for 44410 and 44860.

 

Comment:

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 43065 and 43038).

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