Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point stands at 40530.
Our preference:
The upside prevails as long as 40530 is support.
Alternative scenario:
Below 40530, expect 39300 and 38570.
Comment:
The RSI is above 70. It could mean either that the price 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 40132 and 38804).
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