Bitcoin Gold / Dollar may fall to 28.29 - 28.85

Our pivot point is at 30.79.

Our preference

The downside prevails as long as 30.79 is resistance.

Alternative scenario

The upside breakout of 30.79, would call for 31.73 and 32.29.

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 is trading under both its 20 and 50 period moving average (respectively at 30.69 and 30.91).

Supports and resistances

32.29 **

31.73 *

30.79 **

30.42

29.98 last

28.85

28.29 **

27.73 *

27.17 **

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