Market Analysis of Bitcoin on Thursday 2 May 2024

2024-05-02 09:58Source:BtcDana

Bitcoin / Dollar intraday: rebound

 

Our pivot point is at 57230.

 

Our preference:

Rebound.

 

Alternative scenario:

Below 57230, expect 55930 and 55150.

 

Comment:

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (57618) but under its 50 period moving average (58299).

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