Bitcoin / Dollar intraday: below its lower Bollinger band
Our pivot point stands at 28450.
Our preference:
The downside prevails as long as 28450 is resistance.
Alternative scenario:
Above 28450, look for 29000 and 29320.
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 28342 and 28684). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 27896).
