Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point stands at 35750.
Our preference:
The downside prevails as long as 35750 is resistance.
Alternative scenario:
Above 35750, look for 36190 and 36450.
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 negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 36058 and 36352).
