Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point is at 26890.
Our preference:
The upside prevails as long as 26890 is support.
Alternative scenario:
Below 26890, expect 26520 and 26300.
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 above its 20 and 50 period moving average (respectively at 26769 and 26142).
