Bitcoin Intraday: the RSI is oversold
Sep 30, 2024 2:05 AM
the downside prevails as long as 65770 is resistance.

Our pivot point is at 65770.
Our preference:
the downside prevails as long as 65770 is resistance.
Alternative scenario:
above 65770, look for 67050 and 67820.
Comment:
the RSI is trading below 30. This could mean that either the price 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 price is trading under both its 20 and 50 period moving average (respectively at 65624 and 65652). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (64910).
Supports and resistances:
67820 **
67050 *
65770 **
65270
64759 last
63230
62470 **
61710 *
60950 **
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