Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point stands at 26300.
Our preference:
The upside prevails as long as 26300 is support.
Alternative scenario:
The downside breakout of 26300 would call for 26030 and 25880.
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 26174 and 26042).
