Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point is at 27590.
Our preference:
The upside prevails as long as 27590 is support.
Alternative scenario:
Below 27590, expect 27220 and 27000.
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 27188 and 26970).
