*Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point is at 49640.
Our preference
The upside prevails as long as 49640 is support.
Alternative scenario
Below 49640, expect 48130 and 47230.
Comment
The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 49419 and 48893).
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