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Bitcoin / Dollar ST: the RSI is overbought

2024-02-13
732

Our pivot point is at 45570.

Our preference: the upside prevails as long as 45570 is support.

Alternative scenario: below 45570, expect 40010 and 36700.

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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 44259 and 43518). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (49986).

Supports and resistances:

66880 **

63560 *

60230 **

56900

50142 last

47750

45570 **

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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