Bitcoin Intraday: the RSI is overbought

Nov 21, 2024 5:05 AM

the upside prevails as long as 95910 is support.

Our pivot point stands at 95910.
Our preference:
the upside prevails as long as 95910 is support.
Alternative scenario:
the downside breakout of 95910 would call for 94280 and 93300.
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. Moreover, the price is above its 20 and 50 period moving average (respectively at 94973 and 94130). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (97083).
Supports and resistances:
102440 **
101460 *
100480 **
99510
97270 last
96550
95910 **
94280 *
93300 **

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