Bitcoin Short Term: the RSI is overbought
Bitcoin (BTC/USD)
+70.85+0.09%
The upside prevails as long as 73,021 is support, with 85,749 and 88,628 as targets
Our pivot point is at 73,021.
Our preference: The upside prevails as long as 73,021 is support, with 85,749 and 88,628 as targets
Alternative scenario: below 73,021, expect 68,384 and 65,625.
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 67,463 and 65,451).
Supports and resistances:
91,508 *
88,628 **
85,749
78,759 last
73,021 **
68,384 *
65,625 **
Our preference: The upside prevails as long as 73,021 is support, with 85,749 and 88,628 as targets
Alternative scenario: below 73,021, expect 68,384 and 65,625.
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 67,463 and 65,451).
Supports and resistances:
91,508 *
88,628 **
85,749
78,759 last
73,021 **
68,384 *
65,625 **
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