Bitcoin Intraday: the RSI is overbought
Bitcoin (BTC/USD)
-93.00-0.12%
The upside prevails as long as 80,751 is support, with 82,401 and 82,840 as targets
Our pivot point is at 80,751.
Our preference: The upside prevails as long as 80,751 is support, with 82,401 and 82,840 as targets
Alternative scenario: below 80,751, expect 80,015 and 79,577.
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 80,908 and 80,538). The Bitcoin / USD is trading above its upper Bollinger band (standing at 81,357).
Supports and resistances:
83,279 *
82,840 **
82,401
81,372 last
80,751 **
80,015 *
79,577 **
Our preference: The upside prevails as long as 80,751 is support, with 82,401 and 82,840 as targets
Alternative scenario: below 80,751, expect 80,015 and 79,577.
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 80,908 and 80,538). The Bitcoin / USD is trading above its upper Bollinger band (standing at 81,357).
Supports and resistances:
83,279 *
82,840 **
82,401
81,372 last
80,751 **
80,015 *
79,577 **
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