Market Analysis of Bitcoin on Wednesday 1 May 2024

2024-05-01 11:21Source:BtcDana

Bitcoin / Dollar intraday: rebound towards 63110

 

Our pivot point stands at 59550.

 

Our preference:

Rebound towards 63110.

 

Alternative scenario:

The downside breakout of 59550 would call for 58190 and 57380.

 

Comment:

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (60326) but below its 50 period moving average (61756).

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