Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point stands at 115030.
Our preference:
The upside prevails as long as 115030 is support.
Alternative scenario:
The downside breakout of 115030 would call for 113800 and 113070.
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 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 113962 and 112267).
