Market Analysis of Bitcoin on Wednesday 07 May 2025

2026-05-07 04:13Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 82200 is resistance
 
Our pivot point stands at 82200.
 
Our preference:
The downside prevails as long as 82200 is resistance.
 
Alternative scenario:
The upside breakout of 82200, would call for 83270 and 83900.
 
Comment:
The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 81493 and 81551).

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