Bitcoin / Dollar intraday: the downside prevails as long as 29230 is resistance
29230 is our pivot point.
Our preference:
The downside prevails as long as 29230 is resistance.
Alternative scenario:
Above 29230, look for 29770 and 30090.
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 29190 and 29563).
