Bitcoin Intraday: the RSI is oversold

Our pivot point stands at 69780.

Our preference: the downside prevails as long as 69780 is resistance.

Alternative scenario: the upside breakout of 69780, would call for 70940 and 71620.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 69535 and 69528). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 68837).

Supports and resistances:
71620 **
70940 *
69780 **
69320
68648 last
67160
66470 **
65790 *
65100 **