Bitcoin / Dollar intraday: the RSI is oversold
47820 is our pivot point.
Our preference:
The downside prevails as long as 47820 is resistance.
Alternative scenario:
Above 47820, look for 49210 and 50030.
Comment:
The RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). 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 47676 and 48661).
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