Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point stands at 35050.
Our preference:
The upside prevails as long as 35050 is support.
Alternative scenario:
Below 35050, expect 34610 and 34350.
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 34955 and 34937). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (35656).
