Bitcoin / Dollar intraday: the RSI is oversold
Our pivot point is at 8067.
Comment:
the RSI is trading below 30. This could mean that either the pair 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 pair is trading under both its 20 and 50 MAs (respectively at 8059 and 8165).
Alternative scenario:
above 8067, look for 8176 and 8241.
Our preference:
the downside prevails as long as 8067 is resistance.