Market Analysis of Bitcoin on Monday 5 February 2024

2024-02-05 10:41Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 43240 is resistance

 

Our pivot point stands at 43240.

 

Our preference:

The downside prevails as long as 43240 is resistance.

 

Alternative scenario:

The upside breakout of 43240, would call for 43990 and 44440.

 

Comment:

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 42870 and 42915).

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