Bitcoin / Dollar intraday: the upside prevails as long as 35210 is support
Our pivot point is at 35210.
Our preference:
The upside prevails as long as 35210 is support.
Alternative scenario:
The downside breakout of 35210 would call for 34140 and 33500.
Comment:
The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 34609 and 34984).
This material is from Trading Central and is being posted with permission from Trading Central. The views expressed in this material are solely those of the author and/or Trading View and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice.