Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point is at 30920.
Our preference:
The upside prevails as long as 30920 is support.
Alternative scenario:
The downside breakout of 30920 would call for 30470 and 30200.
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 above its 20 and 50 period moving average (respectively at 30874 and 30744).
