Bitcoin / Dollar intraday: the RSI is oversold
19260 is our pivot point.
Our preference:
The downside prevails as long as 19260 is resistance.
Alternative scenario:
Above 19260, look for 19820 and 20160.
Comment:
The RSI is trading below 30. This could mean that either the price 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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 19129 and 19572).
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