Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point is at 41560.
Our preference:
The downside prevails as long as 41560 is resistance.
Alternative scenario:
The upside breakout of 41560, would call for 42260 and 42680.
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 42015 and 42408).
