Bitcoin Gold / Dollar may fall to 28.65 - 29.22

Our pivot point is at 32.26.

Our preference

The downside prevails as long as 32.26 is resistance.

Alternative scenario

The upside breakout of 32.26, would call for 33.24 and 33.83.

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 32.27 and 32.82).

Supports and resistances

33.83 **

33.24 *

32.26 **

31.87

31.46 last

29.22

28.65 **

28.08 *

27.52 **

Number of asterisks represents the strength of support and resistance levels.