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Bitcoin / Dollar intraday: the RSI is overbought

2024-03-25
746

Our pivot point stands at 67900.

Our preference: the upside prevails as long as 67900 is support.

Alternative scenario: below 67900, expect 66620 and 65860.

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 67352 and 66738). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 68767).

Supports and resistances:

73160 **

72390 *

71620 **

70860

69291 last

68410

67900 **

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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