Bitcoin Intraday: the RSI is overbought
Bitcoin (BTC/USD)
+2871.07+4.16%
The upside prevails as long as 69,253 is support, with 72,162 and 72,497 as targets
Our pivot point is at 69,253.
Our preference: The upside prevails as long as 69,253 is support, with 72,162 and 72,497 as targets
Alternative scenario: below 69,253, expect 68,704 and 68,377.
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. The price is above its 20 and 50 period moving average (respectively at 69,433 and 67,762). The Bitcoin / USD is trading above its upper Bollinger band (standing at 70,549).
Supports and resistances:
72,832 *
72,497 **
72,162
71,287 last
69,253 **
68,704 *
68,377 **
Our preference: The upside prevails as long as 69,253 is support, with 72,162 and 72,497 as targets
Alternative scenario: below 69,253, expect 68,704 and 68,377.
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. The price is above its 20 and 50 period moving average (respectively at 69,433 and 67,762). The Bitcoin / USD is trading above its upper Bollinger band (standing at 70,549).
Supports and resistances:
72,832 *
72,497 **
72,162
71,287 last
69,253 **
68,704 *
68,377 **
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