Bitcoin / Dollar intraday: the RSI is overbought
65950 is our pivot point.
Our preference:
The upside prevails as long as 65950 is support.
Alternative scenario:
Below 65950, expect 64700 and 63960.
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 64367 and 63329). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 66778).
