Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point stands at 37000.
Our preference:
The upside prevails as long as 37000 is support.
Alternative scenario:
Below 37000, expect 36540 and 36260.
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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 36622 and 36000).
