Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point stands at 22980.
Our preference:
The downside prevails as long as 22980 is resistance.
Alternative scenario:
The upside breakout of 22980, would call for 23280 and 23460.
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 is trading under both its 20 and 50 period moving average (respectively at 23068 and 23412). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (22706).
