Bitcoin / Dollar intraday: the RSI is overbought
23300 is our pivot point.
Our preference:
The upside prevails as long as 23300 is support.
Alternative scenario:
Below 23300, expect 22990 and 22800.
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 23123 and 23090). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 23470).
