Market Analysis of BITCOIN on Friday 16 August 2024

2024-08-16 10:03Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 58440 is resistance

Our pivot point stands at 58440.

Our preference:

The downside prevails as long as 58440 is resistance.

Alternative scenario:

Above 58440, look for 59560 and 60220.

Comment:

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 58133 and 58382).

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