Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point is at 26460.
Our preference:
The downside prevails as long as 26460 is resistance.
Alternative scenario:
Above 26460, look for 26710 and 26870.
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 26841 and 27080).
