Bitcoin Intraday: the RSI is oversold
Jun 18, 2024 3:11 AM
the downside prevails as long as 65980 is resistance.

65980 is our pivot point.
Our preference: the downside prevails as long as 65980 is resistance.
Alternative scenario: above 65980, look for 67000 and 67600.
Comment: the RSI is below 30. It could either mean that the price 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 price is trading under both its 20 and 50 period moving average (respectively at 66267 and 66067). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (65053).
Supports and resistances:
67600 **
67000 *
65980 **
65580
64772 last
63570
62970 **
62370 *
61770 **
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