Bitcoin / Dollar intraday: above its upper Bollinger band
Our pivot point stands at 16780.
Our preference:
The upside prevails as long as 16780 is support.
Alternative scenario:
Below 16780, expect 16410 and 16190.
Comment:
The RSI is trading above 70. This could mean that either the price 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 trading above both its 20 and 50 period moving average (respectively at 17007 and 16994). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (17076).
