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Bitcoin / Dollar intraday: the RSI is overbought


Our pivot point stands at 32940.

Our preference: the upside prevails as long as 32940 is support.

Alternative scenario: below 32940, expect 32480 and 32200.

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 trading above both its 20 and 50 period moving average (respectively at 31781 and 31051).

Supports and resistances:

35140 **

34860 *

34580 **


33700 last


32940 **

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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