Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point stands at 101690.
Our preference:
The downside prevails as long as 101690 is resistance.
Alternative scenario:
Above 101690, look for 102980 and 103750.
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 is trading under both its 20 and 50 period moving average (respectively at 102752 and 104590).
