Bitcoin / Dollar intraday: the RSI is overbought
42080 is our pivot point.
Our preference:
The upside prevails as long as 42080 is support.
Alternative scenario:
The downside breakout of 42080 would call for 41370 and 40950.
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 above its 20 and 50 period moving average (respectively at 41820 and 41389).
