Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point is at 21000.
Our preference:
The upside prevails as long as 21000 is support.
Alternative scenario:
Below 21000, expect 20630 and 20420.
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 above its 20 and 50 period moving average (respectively at 20818 and 20662).
