Market Analysis of BITCOIN on Tuesday 4 June 2024

2024-06-04 10:05Source:BtcDana

Bitcoin / Dollar intraday: target 66710

70160 is our pivot point.

Our preference:

Target 66710.

Alternative scenario:

The upside breakout of 70160, would call for 71460 and 72230.

Comment:

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under its 20 period moving average (69280) but above its 50 period moving average (68697).

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