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Bitcoin / Dollar ST: the RSI is overbought

2024-03-12
103

Our pivot point is at 65200.

Our preference: the upside prevails as long as 65200 is support.

Alternative scenario: below 65200, expect 56570 and 51420.

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 trading above both its 20 and 50 period moving average (respectively at 62166 and 52475).

Supports and resistances:

98180 **

93020 *

87850 **

82680

71990 last

68600

65200 **

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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