MTGOX:BTCUSD   Bitcoin / U.S. Dollar
my understanding


yes I see that on the RSI, so far it's holding up. Perhaps my wording is not correct. When I specified trend reversal in this image, I meant that the downtrend that can be seen will likely change direction according to the bollinger, and my 2nd verification on that is the MACD. Looking at the same chart 2 hours later we have 1 red candle and another red candle forming (but still above the MA).

Not too strong on my opinion with this chart as you are correct it is approaching oversold here.

When you say MACD cross below pink lines.... are you referring to those histogram bars?
*overbought on RSI, sorry
Still going to go lower. Oversold on the RSI, and MACD cross is below the pink lines (you want it to be in the middle or above for a confirmed bullish cross).