Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point stands at 28620.
Our preference:
The upside prevails as long as 28620 is support.
Alternative scenario:
Below 28620, expect 28020 and 27660.
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 28615 and 28430).
