Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point stands at 37640.
Our preference:
The upside prevails as long as 37640 is support.
Alternative scenario:
Below 37640, expect 37060 and 36720.
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 37690 and 37322).
