Bitcoin / Dollar intraday: below its lower Bollinger band
Our pivot point is at 28590.
Our preference:
The downside prevails as long as 28590 is resistance.
Alternative scenario:
The upside breakout of 28590, would call for 29180 and 29540.
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 below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 28215 and 28352). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 27968).
