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Bitcoin / Dollar intraday: the RSI is overbought

2024-03-11
967

Our pivot point stands at 70730.

Our preference: the upside prevails as long as 70730 is support.

Alternative scenario: below 70730, expect 69580 and 68900.

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 trading above both its 20 and 50 period moving average (respectively at 69364 and 69425).

Supports and resistances:

75090 **

74400 *

73720 **

73030

71651 last

71180

70730 **

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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