Bitcoin / Dollar intraday: the RSI is overbought
17300 is our pivot point.
Our preference:
The upside prevails as long as 17300 is support.
Alternative scenario:
The downside breakout of 17300 would call for 17120 and 17010.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 17329 and 17261).
