Bitcoin / Dollar intraday: the RSI is overbought
Our pivot point stands at 43470.
Our preference: the upside prevails as long as 43470 is support.
Alternative scenario: below 43470, expect 42750 and 42320.
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 43302 and 43130). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (44041).
Supports and resistances:
46390 **
45950 *
45520 **
45090
44163 last
43760
43470 **
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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