Bitcoin / Dollar intraday: the upside prevails as long as 122450 is support
Our pivot point stands at 122450.
Our preference:
The upside prevails as long as 122450 is support.
Alternative scenario:
The downside breakout of 122450 would call for 121330 and 120660.
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 122223 and 120852).
