Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point stands at 88960.
Our preference:
The downside prevails as long as 88960 is resistance.
Alternative scenario:
Above 88960, look for 90010 and 90630.
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 89641 and 90838).
