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Bitcoin / Dollar intraday: the RSI is overbought

2024-01-02
415

44710 is our pivot point.

Our preference: as long as 44710 is support look for 46800.

Alternative scenario: below 44710, expect 44010 and 43590.

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 below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 44932 and 43694).

Supports and resistances:

47640 **

47220 *

46800 **

46380

45537 last

44990

44710 **

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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