Market Analysis of Bitcoin on Friday 3 May 2024

2024-05-03 10:02Source:BtcDana

Bitcoin / Dollar intraday: as long as 58030 is support look for 61470

 

Our pivot point is at 58030.

 

Our preference:

As long as 58030 is support look for 61470.

 

Alternative scenario:

The downside breakout of 58030 would call for 56710 and 55930.

 

Comment:

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is below its 20 period moving average (59161) but above its 50 period moving average (58361).

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