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Bitcoin / Dollar intraday: the RSI is overbought

2024-03-21
473

65950 is our pivot point.

Our preference: the upside prevails as long as 65950 is support.

Alternative scenario: below 65950, expect 64700 and 63960.

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 64367 and 63329). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 66778).

Supports and resistances:

71580 **

70820 *

70070 **

69320

67223 last

66440

65950 **

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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