Bitcoin / Dollar intraday: the RSI is overbought
69730 is our pivot point.
Our preference:
The upside prevails as long as 69730 is support.
Alternative scenario:
Below 69730, expect 68410 and 67630.
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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 69364 and 67914).
