Bitcoin Intraday: the RSI is overbought
Bitcoin (BTC/USD)
+707.75+1.10%
The upside prevails as long as 64,290 is support, with 65,991 and 66,412 as targets
Our pivot point is at 64,290.
Our preference: The upside prevails as long as 64,290 is support, with 65,991 and 66,412 as targets
Alternative scenario: below 64,290, expect 63,586 and 63,167.
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 64,440 and 64,438). The Bitcoin / USD is trading above its upper Bollinger band (standing at 64,975).
Supports and resistances:
66,833 *
66,412 **
65,991
65,042 last
64,290 **
63,586 *
63,167 **
Our preference: The upside prevails as long as 64,290 is support, with 65,991 and 66,412 as targets
Alternative scenario: below 64,290, expect 63,586 and 63,167.
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 64,440 and 64,438). The Bitcoin / USD is trading above its upper Bollinger band (standing at 64,975).
Supports and resistances:
66,833 *
66,412 **
65,991
65,042 last
64,290 **
63,586 *
63,167 **
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