Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point stands at 42080.
Our preference:
The downside prevails as long as 42080 is resistance.
Alternative scenario:
Above 42080, look for 43300 and 44030.
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 is trading under both its 20 and 50 period moving average (respectively at 42005 and 43093).
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