Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point stands at 25810.
Our preference:
The downside prevails as long as 25810 is resistance.
Alternative scenario:
The upside breakout of 25810, would call for 26140 and 26340.
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 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 26257 and 26699).
