Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point is at 89420.
Our preference:
The downside prevails as long as 89420 is resistance.
Alternative scenario:
Above 89420, look for 90750 and 91540.
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 88851 and 89598).
