Bitcoin / Dollar intraday: the RSI is oversold

Bitcoin / Dollar intraday: the RSI is oversold
3878 is our pivot point.

Most likely scenario: the downside prevails as long as 3878 is resistance.

Alternative scenario: the upside breakout of 3878, would call for 3994 and 4063.

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 below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 3894 and 3963).

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