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Bitcoin / Dollar intraday: the RSI is overbought
2024-03-04
565
Our pivot point stands at 64350.
Our preference: the upside prevails as long as 64350 is support.
Alternative scenario: the downside breakout of 64350 would call for 63300 and 62680.
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 63967 and 63068). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 65305).
Supports and resistances:
68690 **
68060 *
67430 **
66810
65467 last
64760
64350 **
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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