Bitcoin / Dollar intraday: the RSI is oversold

BTCUSD

Trading Central 2021-02-22 22:20:13

Our pivot point stands at 53775.

Our preference: the downside prevails as long as 53775 is resistance.

Alternative scenario: above 53775, look for 55516 and 56553.

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 price stands below its 20 and 50 period moving average (respectively at 54870 and 56315). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (51862).

Supports and resistances:

56553 **

55516 *

53775 **

53091

51299 last

49270

48255 **

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