Bitcoin / Dollar intraday: the RSI is oversold
45410 is our pivot point.
Our preference:
The downside prevails as long as 45410 is resistance.
Alternative scenario:
The upside breakout of 45410, would call for 46730 and 47510.
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 46029 and 46224). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (44479).
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