Bitcoin / Dollar ST: the RSI is overbought
Our pivot point is at 30570.
Our preference: the upside prevails as long as 30570 is support.
Alternative scenario: the downside breakout of 30570 would call for 27370 and 25460.
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 28527 and 27341). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 32221).
Supports and resistances:
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