Bitcoin / Dollar intraday: below its lower Bollinger band
Our pivot point stands at 22820.
Our preference:
The downside prevails as long as 22820 is resistance.
Alternative scenario:
Above 22820, look for 23100 and 23270.
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 22811 and 22863). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 22565).
