Bitcoin Intraday: the RSI is overbought
Bitcoin (BTC/USD)
-273.73-0.35%
The upside prevails as long as 77,948 is support, with 80,905 and 81,696 as targets
Our pivot point is at 77,948.
Our preference: The upside prevails as long as 77,948 is support, with 80,905 and 81,696 as targets
Alternative scenario: below 77,948, expect 76,626 and 75,839.
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 78,322 and 77,719).
Supports and resistances:
82,486 *
81,696 **
80,905
79,234 last
77,948 **
76,626 *
75,839 **
Our preference: The upside prevails as long as 77,948 is support, with 80,905 and 81,696 as targets
Alternative scenario: below 77,948, expect 76,626 and 75,839.
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 78,322 and 77,719).
Supports and resistances:
82,486 *
81,696 **
80,905
79,234 last
77,948 **
76,626 *
75,839 **
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