Bitcoin / Dollar intraday: the RSI is overbought
46330 is our pivot point.
Our preference:
The upside prevails as long as 46330 is support.
Alternative scenario:
The downside breakout of 46330 would call for 45600 and 45170.
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 45498 and 44508).
