Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point is at 53620.
Our preference:
The upside prevails as long as 53620 is support.
Alternative scenario:
Below 53620, expect 52760 and 52240.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 52693 and 51985).
