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Bitcoin / Dollar intraday: the RSI is overbought

2024-02-27
133

Our pivot point stands at 55610.

Our preference: the upside prevails as long as 55610 is support.

Alternative scenario: below 55610, expect 54700 and 54160.

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 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 54739 and 52872).

Supports and resistances:

59200 **

58660 *

58120 **

57580

56450 last

55960

55610 **

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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