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Bitcoin / Dollar ST: the RSI is overbought

2024-02-27
645

Our pivot point is at 49720.

Our preference: the upside prevails as long as 49720 is support.

Alternative scenario: below 49720, expect 43660 and 40050.

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 50918 and 45906).

Supports and resistances:

72780 **

69160 *

65540 **

61920

54555 last

52100

49720 **

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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