Bitcoin Intraday: the RSI is overbought
Bitcoin (BTC/USD)
+2331.35+3.21%
The upside prevails as long as 74,051 is support, with 76,455 and 76,810 as targets
Our pivot point is at 74,051.
Our preference: The upside prevails as long as 74,051 is support, with 76,455 and 76,810 as targets
Alternative scenario: below 74,051, expect 73,464 and 73,114.
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 73,034 and 71,607). The Bitcoin / USD is trading above its upper Bollinger band (standing at 74,489).
Supports and resistances:
77,166 *
76,810 **
76,455
75,089 last
74,051 **
73,464 *
73,114 **
Our preference: The upside prevails as long as 74,051 is support, with 76,455 and 76,810 as targets
Alternative scenario: below 74,051, expect 73,464 and 73,114.
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 73,034 and 71,607). The Bitcoin / USD is trading above its upper Bollinger band (standing at 74,489).
Supports and resistances:
77,166 *
76,810 **
76,455
75,089 last
74,051 **
73,464 *
73,114 **
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