Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point stands at 20100.
Our preference:
Rebound towards 20260.
Alternative scenario:
The downside breakout of 20100 would call for 20050 and 20020.
Comment:
The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 20453 and 21505).
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