Bitcoin Intraday: the RSI is overbought
Bitcoin (BTC/USD)
+2165.32+2.78%
The upside prevails as long as 79,762 is support, with 81,653 and 82,147 as targets
Our pivot point is at 79,762.
Our preference: The upside prevails as long as 79,762 is support, with 81,653 and 82,147 as targets
Alternative scenario: below 79,762, expect 78,935 and 78,443.
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 78,775 and 77,915).
Supports and resistances:
82,641 *
82,147 **
81,653
80,473 last
79,762 **
78,935 *
78,443 **
Our preference: The upside prevails as long as 79,762 is support, with 81,653 and 82,147 as targets
Alternative scenario: below 79,762, expect 78,935 and 78,443.
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 78,775 and 77,915).
Supports and resistances:
82,641 *
82,147 **
81,653
80,473 last
79,762 **
78,935 *
78,443 **
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