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Bitcoin / Dollar intraday: the RSI is overbought
2023-10-24
603
Our pivot point stands at 33740.
Our preference: the upside prevails as long as 33740 is support.
Alternative scenario: the downside breakout of 33740 would call for 33270 and 32980.
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 32253 and 31282).
Supports and resistances:
35930 **
35650 *
35360 **
35070
34362 last
33930
33740 **
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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