Market Analysis of Bitcoin on Wednesday 21 February 2024

2024-02-21 10:05Source:BtcDana

Bitcoin / Dollar intraday: our next up target stands at 53680

 

Our pivot point is at 51370.

 

Our preference:

Our next up target stands at 53680.

 

Alternative scenario:

The downside breakout of 51370 would call for 50540 and 50050.

 

Comment:

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 51903 and 51845).

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