Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point stands at 28170.
Our preference:
The downside prevails as long as 28170 is resistance.
Alternative scenario:
The upside breakout of 28170, would call for 28460 and 28630.
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 stands below its 20 and 50 period moving average (respectively at 28204 and 28504).
