Bitcoin / Dollar intraday: rebound towards 3828

Bitcoin / Dollar intraday: rebound towards 3828
Our pivot point stands at 3511.

Most likely scenario: rebound towards 3828.

Alternative scenario: the downside breakout of 3511 would call for 3391 and 3320.

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 above its signal line. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 3624 and 3708).

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