Bitcoin / Dollar intraday: below its lower Bollinger band
93560 is our pivot point.
Our preference:
The downside prevails as long as 93560 is resistance.
Alternative scenario:
Above 93560, look for 94710 and 95390.
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 92960 and 92946). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 92497).
