Bitcoin Intraday: the RSI is overbought
Jul 15, 2024 9:56 AM
as long as 62270 is support look for 64770.
62270 is our pivot point.
Our preference: as long as 62270 is support look for 64770.
Alternative scenario: below 62270, expect 61320 and 60750.
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 below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 62266 and 60983).
Supports and resistances:
65910 **
65340 *
64770 **
64210
63058 last
62650
62270 **
61320 *
60750 **
Our preference: as long as 62270 is support look for 64770.
Alternative scenario: below 62270, expect 61320 and 60750.
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 below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 62266 and 60983).
Supports and resistances:
65910 **
65340 *
64770 **
64210
63058 last
62650
62270 **
61320 *
60750 **
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