Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point is at 28900.
Our preference:
The downside prevails as long as 28900 is resistance.
Alternative scenario:
Above 28900, look for 29450 and 29780.
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 28872 and 28898). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (28559).
