Market Analysis of Bitcoin on Monday 4 Mar 2024

2024-03-04 09:57Source:BtcDana

Bitcoin / Dollar intraday: the upside prevails as long as 62020 is support

 

62020 is our pivot point.

 

Our preference:

The upside prevails as long as 62020 is support.

 

Alternative scenario:

The downside breakout of 62020 would call for 61010 and 60410.

 

Comment:

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 62467 and 62106).

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