Bitcoin / Dollar intraday: the downside prevails as long as 7933 is resistance
Our pivot point is at 7933.
Comment:
the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 7998 and 8013).
Alternative scenario:
above 7933, look for 8039 and 8103.
Our preference:
the downside prevails as long as 7933 is resistance.